Common use of Increase Clause in Contracts

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 6 contracts

Sources: Senior Revolving Facility Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.), Amendment and Restatement Agreement (Nord Anglia Education, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 9.14 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.22.3. (e) The Company may shall pay to the Increase Lender a fee in the amount and at the times as may be agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 4 contracts

Sources: Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA)

Increase. (a) The Company Borrower may by giving prior notice to the Facility Agent by no later than the date falling 20 ten (10) Business Days after the effective date of a cancellation of: (ia) the Available Commitments undrawn Commitment of a Defaulting Lender in accordance with Clause clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (iib) the Commitments Commitment of a Lender in accordance with Clause with: (i) clause 9.1 (Illegality); or (ii) clause 9.3 (Right of cancellation and prepayment in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments Commitment so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the GroupGroup member) and which is further acceptable to K-sure in case such Commitment relates to the Agent (acting reasonably) K-sure Facility and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender); (ivB) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a ‘‘Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below clause 2.3 are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 3 contracts

Sources: Facility Agreement, Facility Agreement (Hoegh LNG Partners LP), Facility Agreement (Hoegh LNG Partners LP)

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 within ten Business Days after of the effective date of a cancellation of: (i) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 under Subclause 31.4 (Right of cancellation in relation to a Defaulting Lender); , or (ii) the Commitments Commitment of a Lender in accordance with Clause 9.1 Subclause 10.1 (IllegalityMandatory prepayment — illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available undrawn Commitments or Commitments so cancelled as followsthe Commitments, referred to above, which have been cancelled. (b) Following a request under paragraph (a) above: (iiii) the increased Commitments Commitment will be assumed by one or more Lenders a Lender or other banksbank or financial institution or trust, financial institutions, trusts, funds fund or other entities entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (each other than a Subsidiary of the Company) (an Increase Lender) selected by the Company (each and in respect of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Facility Agent (acting reasonably) has carried out and been satisfied with the results of all customer due diligence requirements, and each of which confirms its willingness to assume and does assume that it has assumed all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, Commitment as if it had been an Original Lender; (ivii) each of the Obligors and any the Increase Lender shall will assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each the Increase Lender shall will become a Party as a “Lender” Lender and any the Increase Lender and each of the other Finance Parties shall will assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall will continue in full force and effect; and (viiv) any the increase in the Total Commitments shall take effect will become effective on the date specified by the Company referred to in the notice referred to delivered under paragraph (a) above or any later date on which the conditions set out in paragraph (bc) below are satisfied. (bc) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an confirmation (the Increase Confirmation Confirmation) from the relevant Increase Lender substantially in the form set out in Schedule 9 (Form of Increase Confirmation) that the Increase Lender will assume the same obligations to the other Finance Parties as it would have been under if it had been an Original Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations customer due diligence requirements in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall must promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing entering into the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute enter into on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or relevant Lenders in accordance with this Agreement on or prior to before the date on which the increase becomes effective. (de) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, must on the date upon which that the increase takes effectbecomes effective, pay to the Facility Agent (for its own account) a fee of £1,500 US$3,500 and the Company shall within three (3) Business Days of must promptly on demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2Clause. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letterletter which for these purposes is designated a Finance Document. (fg) Clause 27.4 Subclause 30.8 (Limitation of responsibility of Existing LendersLender) shall apply mutatis mutandis in this Clause 2.2 applies in relation to an Increase Lender as if references in that Clause Subclause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment. (h) The Facility Agent must, as soon as reasonably practicable, after it has executed an Increase Confirmation send a copy to the Company.

Appears in 3 contracts

Sources: Credit Facilities Agreement (Amec PLC), Credit Facilities Agreement (Amec PLC), Credit Facilities (Amec PLC)

Increase. (a) The Company may Borrower may, from time to time, by giving prior means of a notice delivered to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality)Administrative Agent, request that the Total aggregate amount of the Commitments be increased by (and the Total Commitments shall be so increasedi) in an aggregate Base Currency Amount of up to increasing the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by Commitment of one or more Lenders or other banks, financial institutions, trusts, funds or other entities that have agreed (in their sole and individual discretion) to such increase (each an “Increase Increasing Lender”) selected by the Company and/or (ii) adding one or more Eligible Assignees as parties hereto (each an “Additional Lender”) with Commitments in amounts agreed to by such Additional Lenders; provided that (A) any such increase shall be in an aggregate amount of $50,000,000 or a higher integral multiple of $5,000,000, (B) no Additional Lender shall be added as a party hereto without the written consent of the Administrative Agent to the extent such consent would be required for an assignment to such Additional Lender pursuant to Section 8.07 (which consent shall not be an Investor Affiliate unreasonably withheld, conditioned or delayed), (C) the aggregate Commitments after giving effect to any such increase shall not exceed $7,000,000,000, and (D) as a member condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate dated as of the GroupIncrease Effective Date (as defined below) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of signed by a Lender corresponding to that part Responsible Officer of the increased Commitments which it Borrower certifying that before and after giving effect to such increase (1) no Default has occurred and is to assume, continuing as if it had been an Original Lender; of the date of such increase or would result from such increase and (iv2) each of the Obligors representations and warranties set forth in Section 4.01 are true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) as of the date of such increase, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date; provided, that for purposes of this Section 2.05(c), the representations and warranties contained in Section 4.01(e) shall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(i)(i) and 5.01(i)(ii). Any such increase in Commitments shall be effected pursuant to one or more Lender Joinder Agreements executed and delivered by the Borrower, the Administrative Agent and the Increasing Lenders and/or Additional Lenders, as applicable (the date on which such Lender Joinder Agreement(s) are delivered, the “Increase Effective Date”). The Lender Joinder Agreement(s) may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate in the opinion of the Administrative Agent, to effect the provisions of this Section 2.05(c). On the Increase Effective Date, (x) each Lender shall assume obligations towards one another and/or acquire rights against one another as advance funds required (if any) to cause all outstanding Advances and unused Commitments to be held on a pro rata basis in accordance with the Obligors respective Commitments of each Lender after giving effect to such increase (for each Lender, its “Revised Percentage”) and (y) the Administrative Agent shall use any funds so received to repay the Advances of each Lender to the extent required so that such Lender has its Revised Percentage of all outstanding Advances (it being understood that the Borrower shall be responsible for any break funding payments owing pursuant to Section 8.04(c) resulting from such repayments). The Administrative Agent shall promptly notify the Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each Lenders of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption amount of the increased Commitments by that Increase Lender, the completion pursuant to this Section 2.05(c) and of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either the Commitment of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2each Lender after giving effect thereto. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 3 contracts

Sources: Credit Agreement (Abbott Laboratories), Credit Agreement (Abbott Laboratories), Credit Agreement (Abbott Laboratories)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) of the Available Commitments Commitment or the Revolving Facility Commitment of a Defaulting an Illegal Lender in accordance with Clause 9.5 8.1 (Right of cancellation in relation to a Defaulting Lender); or (iiIllegality) the Commitments of a or Replaceable Lender in accordance with Clause 9.1 37.7 (IllegalityCancellation and repayment of a Replaceable Lender (other than an Illegal Lender), ) (such Available Commitment or Revolving Facility Commitment so cancelled being the “Cancelled Commitment”) request that the Total Revolving Facility Commitments be increased (and the Total Revolving Facility Commitments shall be so increased) in by an aggregate Base Currency Amount amount in Hong Kong dollars of up to the amount of the Available Commitments or Commitments so cancelled Cancelled Commitment as follows: (iiii) the such increased Revolving Facility Commitments will be assumed by one or more Lenders or persons (other banks, financial institutions, trusts, funds or other entities than a Group Member) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) Borrower and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the such increased Revolving Facility Commitments under that Facility which it is to assumeassume (the “Assumed Commitment” of such Increase Lender), as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the that Increase Lender been an Original Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement); (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement) and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any such increase in the Total Revolving Facility Commitments shall take effect on the later of (1) the date specified by the Company Borrower in the notice referred to above or (2) any later date on which the conditions set out in paragraph (b) below are satisfiedsatisfied in respect of such increase. (b) An increase in the Total Revolving Facility Commitments pursuant to this Clause 2.2 will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the each relevant Increase LenderLender in respect of such increase, which the Agent shall execute promptly on request; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (Biii) in relation to an Increase Lender which is not a Lender immediately prior to the performance by relevant increase, the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Assumed Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase in Revolving Facility Commitments (to which such Increase Confirmation relates) becomes effective. (d) Unless The Borrower shall promptly on demand pay the Agent otherwise agrees and the Common Security Agent the amount of all costs and expenses (including legal fees) reasonably incurred by the Agent or the increased Commitment is assumed Common Security Agent (as applicable and, in the case of the Common Security Agent, by an existing Lender, the Company any Receiver or Delegate) in connection with any increase in Revolving Facility Commitments under this Clause 2.2. (e) An Increase Lender shall, on the date upon which the increase its assumption of any Assumed Commitment takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 25.2 (Assignment or transfer fee) if such assumption was a transfer pursuant to Clause 25.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (ef) The Company Borrower may pay to the an Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the that Increase Lender in a Fee Letter. (fg) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 3 contracts

Sources: Amendment and Restatement Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Amendment and Restatement Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Amendment and Restatement Agreement (Melco Crown Entertainment LTD)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 11.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 11.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities persons (each an “Increase Lender”) selected by the Company (each of which shall not be an including, without limitation, any Investor Affiliate or (so long as any such assumption by any Investor Affiliate is in compliance with and treated as a member debt purchase transaction the subject of the Group) and which is further acceptable to the Agent Clause 30 (acting reasonablyRestriction on Debt Purchase Transactions)) and each of which confirms (in its absolute discretion) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments. For the avoidance of doubt, a Lender is not under any obligation to assume any increase in its commitment; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments pursuant to this Clause 2.2 will only be effective on: (i) on the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender , which is not a Lender immediately prior to the relevant increaseAgent shall execute promptly on request, provided that: (Ai) the Increase Lender entering into Confirmation is duly completed, appears on its face to comply with the documentation required for it to accede as a party to terms of this Agreement and is delivered in accordance with the Intercreditor terms of this Agreement; and (Bii) the performance by the Agent of is satisfied that is has complied with all necessary “know your customer”, USA PATRIOT Act or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lenderagrees, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 29.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 29.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (g) Clause 27.4 29.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”. (h) The Finance Parties shall be required to enter into any amendment to the Finance Documents (including, without limitation, in relation to any changes to, the taking of, or the release coupled with the retaking of, Transaction Security) required by the Company in order to facilitate or reflect any of the matters contemplated by this Clause 2.2. The Agent and the Security Trustee are each authorised and instructed by each Finance Party to execute any such amended or replacement Finance Documents (and shall do so on the request of and at the cost of the Company). ​

Appears in 2 contracts

Sources: Revolving Facility Agreement (Manchester United PLC), Revolving Facility Agreement (Manchester United PLC)

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 within ten Business Days after of the effective date of a cancellation of: (i) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 under Subclause 29.4 (Right of cancellation in relation to a Defaulting Lender); , or (ii) the Commitments Commitment of a Lender in accordance with Clause 9.1 Subclause 8.1 (IllegalityMandatory prepayment — illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available undrawn Commitments or Commitments so cancelled as followsthe Commitments, referred to above, which have been cancelled. (b) Following a request under paragraph (a) above: (iiii) the increased Commitments Commitment will be assumed by one or more Lenders a Lender or other banksbank or financial institution or trust, financial institutions, trusts, funds fund or other entities entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (each other than a Subsidiary of the Company) (an Increase Lender) selected by the Company (each and in respect of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Facility Agent (acting reasonably) has carried out and been satisfied with the results of all customer due diligence requirements, and each of which confirms its willingness to assume and does assume that it has assumed all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, Commitment as if it had been an Original Lender; (ivii) each of the Obligors and any the Increase Lender shall will assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each the Increase Lender shall will become a Party as a “Lender” Lender and any the Increase Lender and each of the other Finance Parties shall will assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall will continue in full force and effect; and (viiv) any the increase in the Total Commitments shall take effect will become effective on the date specified by the Company referred to in the notice referred to delivered under paragraph (a) above or any later date on which the conditions set out in paragraph (bc) below are satisfied. (bc) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an confirmation (the Increase Confirmation Confirmation) from the relevant Increase Lender substantially in the form set out in Schedule 9 (Form of Increase Confirmation) that the Increase Lender will assume the same obligations to the other Finance Parties as it would have been under if it had been an Original Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations customer due diligence requirements in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall must promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing entering into the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute enter into on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or relevant Lenders in accordance with this Agreement on or prior to before the date on which the increase becomes effective. (de) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, must on the date upon which that the increase takes effectbecomes effective, pay to the Facility Agent (for its own account) a fee of £1,500 US$3,500 and the Company shall within three (3) Business Days of must promptly on demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2Clause. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letterletter which for these purposes is designated a Finance Document. (fg) Clause 27.4 Subclause 28.8 (Limitation of responsibility of Existing LendersLender) shall apply mutatis mutandis in this Clause 2.2 applies in relation to an Increase Lender as if references in that Clause Subclause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment. (h) The Facility Agent must, as soon as reasonably practicable, after it has executed an Increase Confirmation send a copy to the Company.

Appears in 2 contracts

Sources: Credit Facilities Agreement (Amec PLC), Credit Facilities Agreement (Amec PLC)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.4 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 (Illegality); or (B) paragraph (a) of Clause 8.3 (Right of cancellation and repayment in relation to a single Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall relating to a Facility shall, subject to the conditions set out in paragraph (d) below, take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) An increase in the Commitments relating to a Facility will only be effective if the Increase Lender enters into the documentation required for it to accede as a party to the Intercreditor Agreement. (e) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (df) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Borrower shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (eg) The Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 27.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 27.6 (Procedure for transfer) and if the Increase Lender was a New Lender. (h) The Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a Fee Letter. (fi) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (j) Clause 27.4 27.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 2 contracts

Sources: Senior Term Facilities Agreement (CorpAcq Group PLC), Senior Term Facilities Agreement (CorpAcq Group PLC)

Increase. (a) The Company may by giving prior give notice to the Facility Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 under Subclause 28.3 (Right of cancellation in relation to a Defaulting Lender); , or (ii) the Commitments Commitment of a Lender in accordance with with: (A) Clause 9.1 7.1 (IllegalityMandatory prepayment – illegality), or (B) paragraph (a) of Clause 7.6 (Right of replacement, repayment and cancellation of a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available undrawn Commitments or Commitments so cancelled as followswhich have been cancelled. (b) Following a request under paragraph (a) above: (iiii) the increased Commitments Commitment will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities person (each an Increase Lender) selected by the Company (each of which shall must not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume that it has assumed all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, Commitment as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall will assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall will become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall will assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall will continue in full force and effect; and (viiv) any the increase in the Total Commitments shall take effect will become effective on the date specified by the Company referred to in the notice referred to delivered under paragraph (a) above or any later date on which the conditions set out in paragraph (bc) below are satisfied. (bc) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Facility Agent of an confirmation (the Increase Confirmation Confirmation) from the relevant Increase Lender substantially in the form set out in Schedule 8 (Form of Increase Confirmation) that the Increase Lender will assume the same obligations to the other Finance Parties as it would have been under if it had been an Original Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) , the Facility Agent being satisfied that it has complied with all necessary customer due diligence requirements in relation to that increase. The Facility Agent must promptly notify the Company, and the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lenderupon being so satisfied. (cd) Each Increase Lender, by executing entering into the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute enter into on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or relevant Lenders in accordance with this Agreement on or prior to before the date on which the increase becomes effective. (de) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the The Company shall, must promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case it and including any receiver or delegate of the Security Agent, by any Receiver or Delegate Facility Agent in connection with any increase in Commitments under this Clause 2.2Clause. (ef) The Increase Lender must, on the date on which the increase takes effect, pay to the Facility Agent (for its own account) a fee in an amount equal to the fee which would be payable under Subclause 27.4 (Other conditions to assignment or transfer) if the increase was a transfer under Clause 27 (Changes to the Parties) and if the Increase Lender was a New Lender. (g) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letterletter which for these purposes is designated a Finance Document. (fh) Clause 27.4 Subclause 27.7 (Limitation of responsibility of Existing LendersLender) shall apply mutatis mutandis in this Clause 2.2 applies in relation to an Increase Lender as if references in that Clause Subclause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment. (i) The Facility Agent must, as soon as reasonably practicable, after it has executed an Increase Confirmation send a copy to the Company.

Appears in 2 contracts

Sources: Revolving Credit Facility (Sara Lee Corp), Revolving Credit Facility (D.E Master Blenders 1753 B.V.)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 ten (10) Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 9.13 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 (Illegality); or (B) Paragraph (a) of Clause 9.13 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an Increase Lender) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Bridge Facilities Agreement (Compagnie Maritime Belge NV), Bridge Facilities Agreement (Compagnie Maritime Belge NV)

Increase. (a) Notwithstanding Clause 2.1 (The Original Revolving Facility) above, and in addition to paragraph (b) below, the Company may with the prior consent of a Lender, any bank, financial institution, trust, fund or any other entity selected by the Company (each an “Increase Lender”) and by giving 5 Business Days prior notice to the Facility Agent (or such shorter period as may be agreed between the Company and the Facility Agent (without any requirement for consent from any other Finance Party)), increase the Commitments under any Facility by including any new Commitments of any Increase Lender provided that: (i) [Reserved]; and (ii) each Increase Lender confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume as if it had been an Original Lender by executing an Increase Confirmation. (b) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 thirty Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments relating to any Facility be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate Base Currency Amount amount in the relevant currency of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) and the increased Commitments will be assumed by one or more Increase Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, assume as if it had been an Original Lender;Lender by executing an Increase Confirmation. (ivc) each Each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;Lender under that Facility. (vd) each Each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;Lender under that Facility. (vie) the The Commitments of the other Lenders shall continue in full force and effect; and. (viif) any An increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the any relevant notice referred to in paragraph (a) or (b) above or any later (as applicable) or, if later, the date on which the conditions set out in paragraph (bg) below are satisfied. (bg) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and the Increase Lender. (ch) The Company may pay to any Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender. (i) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (dj) Unless The execution by the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 Parent and the Company of an Increase Confirmation constitutes confirmation from each Guarantor that its obligations under Clause 21 (Guarantee and Indemnity) shall within three (3) Business Days of demand pay continue unaffected except that those obligations shall extend to the Agent and Total Commitments as increased by the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case addition of the Security Agent, by new Commitments of any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender and shall be owed to each Finance Party including the relevant Lender. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fk) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.4 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Liberty Global PLC), Amendment and Restatement Agreement (Liberty Global PLC)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 7.1 (Illegality); or (B) paragraph (a) of Clause 7.4 (Right of cancellation and repayment in relation to a single Lender), request that the Total Commitments relating to the Facility be increased (and the Total Commitments relating to the Facility shall be so increased) in an aggregate Base Currency Amount amount in USD of up to the amount of the Available Commitments or Commitments relating to the Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonablyGroup Member) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors Obligors, the Parent and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Obligors, the Parent and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender which is not already a Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments relating to the Facility shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to the Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase LenderLender provided that the requirements set out in paragraph (ii)(B) below have been satisfied in the case of an Increase Lender which is not a Lender immediately prior to the relevant increase; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations and internal policies in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Borrower shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Increase Lender shall (or the Borrower shall on its behalf), on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 25.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 25.5 (Procedure for transfer) and if the Increase Lender was a New Lender. (f) The Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a Fee Letter. (fg) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement (Baring Asia Private Equity Fund v Co-Investment L.P.), Facility Agreement (Giant Interactive Group Inc.)

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 5 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 10.5 (Right of cancellation Cancellation in relation Relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 19 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate Base Currency Amount amount in the relevant currency of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities other than any member of the Group (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, assume as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party party to this Agreement as a “Lender” and any Increase Lender and each of the other Relevant Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Relevant Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Group Intercreditor Agreement, HYD Intercreditor Agreement and Security Trust Agreement; and (B) the performance by the Facility Agent of all necessary “know your customerclient” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and Company, the Increase LenderLender and each L/C Bank; and (iii) in the case of an increase in the Revolving Facility Commitments, each L/C Bank consenting to their increase. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent Clause 37.7 (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing LendersTransfer Deed) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an a Existing LenderTransferor” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Senior Facilities Agreement (Virgin Media Inc.), Senior Facilities Agreement (Virgin Media Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 5 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 9.6 (Right of prepayment or cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality) or 9.5 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender. For the avoidance of doubt a Lender is not under any obligation to assume any increase in its Commitment; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreementan Increase Confirmation; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 to the extent agreed and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement, Facility Agreement (VTTI Energy Partners LP)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 15 Business Days after the effective date of a cancellation of: (i) of the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.8 (Right of cancellation Cancellation in relation to a Defaulting Lender); or (ii) or the Commitments of a Lender in accordance with Clause 9.1 8.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows:follows (the “Request”): (iiii) the increased Commitments will may be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonablyGroup Company) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Total Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) in the case of any Increase Lender which is not an Austrian Lender, the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in the case of any Increase Lender which is an Austrian Lender, receipt by the Agent of (x) a duly completed Austrian Increase Confirmation delivered to it by the Company and (y) the Increase Fee; and (iii) in relation to an Increase Lender (whether an Austrian Lender or not) which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Total Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase ConfirmationConfirmation or accepting the Austrian Increase Confirmation (as the case may be), confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees with the Company or the increased Commitment increase in the Total Commitments is assumed by an existing Lender, the Company Sappi Papier Holding GmbH shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £EUR 1,500 and the Company Sappi Papier Holding GmbH shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.22.3. (e) The Company Sappi Papier Holding GmbH may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Sappi Papier Holding GmbH and the Increase Lender in a Fee Letter. (f) Clause 27.4 24.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Credit Agreement (Sappi LTD), Credit Agreement (Sappi LTD)

Increase. (a) The Company Borrower may by giving not less than five Business Days’ (or such shorter period as the Facility Agent and the Borrower may agree) prior notice to the Facility Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) of the Available Commitments Commitment of a Defaulting an Illegal Lender in accordance with Clause 9.5 7.1 (Right of cancellation in relation to a Defaulting Lender); or (iiIllegality) the Commitments of a or Replaceable Lender in accordance with paragraph (a) of Clause 9.1 7.5 (Illegality), Replaceable Lender) (such Commitment so cancelled being the Cancelled Commitment) request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in by an aggregate Base Currency Amount amount in US dollars of up to the amount of the Available Commitments or Commitments so cancelled Cancelled Commitment as follows: (iiii) the such increased Commitments under the Facility will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities persons (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and Borrower each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the such increased Commitments under the Facility which it is to assumeassume (the Assumed Commitment of such Increase Lender), as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the that Increase Lender been an Original Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement); (viii) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement) and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any such increase in the Total Commitments under the Facility shall take effect on the later of: (A) the date specified by the Company Borrower in the notice referred to above or above; or (B) any later date on which the conditions set out in paragraph (b) below are satisfiedsatisfied in respect of such increase. (b) An increase in the Total Commitments under the Facility pursuant to this Clause 2.2 will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the each relevant Increase Lender;Lender in respect of such increase which the Facility Agent shall execute as soon as reasonably practicable on request; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to that increase, each of the relevant increase: (A) the Increase Lender entering into the documentation required for Facility Agent being satisfied that it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments applicable Assumed Commitment by that Increase Lender, the completion of which the . The Facility Agent shall promptly as soon as reasonably practicable notify to the Company Borrower and the that Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase in Commitments (to which such Increase Confirmation relates) becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Borrower shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company Borrower may pay to the an Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the that Increase Lender in a Fee Letter. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increaseincrease in Commitments; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively to, respectively, a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Senior Facility Agreement (Wanda Sports Group Co LTD), Senior Facility Agreement (Wanda Sports Group Co LTD)

Increase. PPG shall have the right from time to time to increase the aggregate Commitments hereunder by an aggregate amount not exceeding $750,000,000 by causing one or more Additional Commitment Lenders (awhich may include any existing Lender) The Company may by giving prior notice to provide a (or, in the case of an existing Lender, to increase its) Commitment (each such increase, an “Commitment Increase”), provided that (i) no Lender shall have any obligation hereunder to become an Additional Commitment Lender and any election to do so shall be in the sole discretion of each Lender (and any Lender that does not advise PPG of its election to become an Additional Commitment Lender hereunder shall be deemed to have rejected such request) and (ii) each Commitment Increase shall be in an aggregate amount for all Additional Commitment Lenders of at least $25,000,000. Each such Additional Commitment Lender, each Issuing Lender, and each Borrower shall enter into an agreement in form and substance satisfactory to PPG, the Administrative Agent by no later than the date falling 20 Business Days after and each Issuing Lender pursuant to which each Additional Commitment Lender shall, as of the effective date of such Commitment Increase (which shall be a cancellation ofBusiness Day and, unless the Administrative Agent otherwise agrees, a day on which no issuance, amendment, renewal or extension of any Letter of Credit is scheduled to occur), provide a Commitment (or, if any such Additional Commitment Lender is an existing Lender, increase its Commitment) in the amount specified therein and (if not an existing Lender) become a Lender hereunder. Notwithstanding the foregoing, no Commitment Increase pursuant to this Section shall be effective unless: (i) PPG shall have given the Available Commitments Administrative Agent notice of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up any such increase at least three Business Days prior to the amount relevant effective date of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lendersuch Commitment Increase; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws no Default shall have occurred and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute be continuing on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”such effective date; and (iii) each of the representations and warranties of each Borrower contained in this Agreement shall be true on and as of such effective date with the same force and effect 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 “re-transfer” specific date, as of such specific date). Each notice under clause (i) above shall be deemed to constitute a representation and “re-assignment” were references warranty by the Borrowers as to respectively a “transfer” the matters specified in clauses (ii) and “assignment”(iii) above. On the effective date of each Commitment Increase, PPG shall simultaneously (i) prepay in full the outstanding Revolving Credit Advances (if any) held by the Lenders immediately prior to giving effect to the relevant Commitment Increase (which prepayment may be made with the proceeds of new Revolving Credit Advances under the following clause (ii)), (ii) if PPG shall have so requested in accordance with this Agreement, borrow new Revolving Credit Advances from all Lenders (including, if applicable, any new Lenders) such that, after giving effect thereto, the Revolving Credit Advances are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such Commitment Increase) and (iii) pay to the Lenders the amounts, if any, payable under Section 9.04(c).

Appears in 2 contracts

Sources: Amendment to Credit Agreement (PPG Industries Inc), Five Year Credit Agreement (PPG Industries Inc)

Increase. (a) The Company Borrower may by giving prior notice to the Facility Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 7.1 (Illegality); or (B) paragraph (a) of Clause 7.6 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows:follows (and such that the Total Commitments after such increase will not exceed the Total Commitments at the date of this Agreement): (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group or any Affiliate of the members of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (in the relevant Increase Confirmation) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) , the Facility Agent being satisfied that the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Facility Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Borrower shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses properly incurred by it and reasonable expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 22.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 22.5 (Procedure for transfer) and if the Increase Lender was a New Lender. (f) The Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a Fee Letter. (fg) In no event shall a Lender replaced under paragraph (a) above be required to pay or surrender to such Increase Lender any of the fees received by such Lender pursuant to the Finance Documents. (h) Clause 27.4 22.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement (Randgold Resources LTD), Facility Agreement (Randgold Resources LTD)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 7.4 (Right of prepayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Defaulting Lender in accordance with paragraph (h) of Clause 9.1 7.4 (Right of prepayment and cancellation in relation to a single Lender); or (iii) the Commitments of a Lender in accordance with: (A) Clause 7.1 (Illegality); or (B) paragraph (a) of Clause 7.4 (Right of prepayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds institutions (or any other entities person approved in writing by the Company) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing whether in the relevant Increase Confirmation or otherwise its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender (for the avoidance of doubt, no Party shall be obliged to assume the obligations of a Lender pursuant to this Clause 2.2 (Increase) without the prior consent of that Party); (ivB) each of the Obligors Company and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Company and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement (Alibaba Group Holding LTD), Facility Agreement (Alibaba Group Holding LTD)

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with Clause 9.5 7.12 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; it being understood and agreed, for the avoidance of doubt, that nothing herein shall place any Lender under an obligation to assume any such increased Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume the same obligations towards one another and acquire the same rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee of £1,500 €3,000 and the Company shall within three (3) Business Days of promptly on demand pay to the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 22.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and or “re-assignment” were references to respectively a “transfer” and or “assignment”.

Appears in 2 contracts

Sources: Bond Bridge Facility Agreement (Coca-Cola HBC AG), Bond Bridge Facility Agreement (Coca-Cola HBC AG)

Increase. (a) Notwithstanding Clause 2.1 (The Original Revolving Facility) above, and in addition to paragraph (b) below, the Company may with the prior consent of a Lender, any bank, financial institution, trust, fund or any other entity selected by the Company (each an Increase Lender) and by giving 5 Business Days prior notice to the Facility Agent (or such shorter period as may be agreed between the Company and the Facility Agent (without any requirement for consent from any other Finance Party)), increase the Commitments under any Facility by including any new Commitments of any Increase Lender provided that: (i) no Event of Default is continuing; and (ii) each Increase Lender confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume as if it had been an Original Lender by executing an Increase Confirmation. (b) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 thirty Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments relating to any Facility be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate Base Currency Amount amount in the relevant currency of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) and the increased Commitments will be assumed by one or more Increase Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, assume as if it had been an Original Lender;Lender by executing an Increase Confirmation. (ivc) each Each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;. (vd) each Each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;. (vie) the The Commitments of the other Lenders shall continue in full force and effect; and (viif) any An increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the any relevant notice referred to in paragraph (a) or (b) above (as applicable) or any later date on which the conditions set out in paragraph (bg) below are satisfied. (bg) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and the Increase Lender. (ch) The Company may pay to any Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender. (i) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (dj) Unless The execution by the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 Parent and the Company of an Increase Confirmation constitutes confirmation from each Guarantor that its obligations under Clause 21 (Guarantee and Indemnity) shall within three (3) Business Days of demand pay continue unaffected except that those obligations shall extend to the Agent and Total Commitments as increased by the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case addition of the Security Agent, by new Commitments of any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender and shall be owed to each Finance Party including the relevant Lender. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fk) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.4 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Super Senior Facilities Agreement (Liberty Global PLC), Senior Facilities Agreement (Liberty Global PLC)

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with Clause 9.5 7.11 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; it being understood and agreed, for the avoidance of doubt, that nothing herein shall place any Lender under an obligation to assume any such increased Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume the same obligations towards one another and acquire the same rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: increase (A) the Company confirming that the accession of the Increase Lender entering into does not result in a breach of the documentation required for it to accede as a party to the Intercreditor Agreement; and Swiss Non-Bank-Rules and (B) the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee of £1,500 €3,000 and the Company shall within three (3) Business Days of promptly on demand pay to the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 22.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and or “re-assignment” were references to respectively a “transfer” and or “assignment”.

Appears in 2 contracts

Sources: Squeeze Out Facility Agreement (Coca-Cola HBC AG), Squeeze Out Facility Agreement (Coca-Cola HBC AG)

Increase. (a) The Company may by giving prior notice to the Facility Agent (with a copy to the relevant Swingline Agent) by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 ‎‎9.6 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 ‎‎9.1 (Illegality); or (B) paragraph (a) of Clause ‎‎9.6 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments relating to any Revolving Facility (and related Swingline Facility) be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments relating to that Revolving Facility (including the amount of the Available Commitments under the relevant Swingline Facility or the relevant Swingline Commitments) so cancelled as follows: (iiii) the increased Commitments (including any Swingline Commitments) will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viii) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedFacility Agent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Facility Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Facility Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to satisfied that it, the relevant increase: (A) Swingline Agent and the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Security Agent of have complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Cboe Global Markets, Inc.), Amendment and Restatement Agreement (Cboe Global Markets, Inc.)

Increase. (a) The Company Issuer may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender Note Subscriber in accordance with Clause 9.5 10.5 (Right of cancellation in relation to a Defaulting LenderNote Subscriber); or (ii) the Commitments of a Lender Subscriber in accordance with with: (A) Clause 9.1 11.1 (Illegality); or (B) paragraph (a) of Clause 10.4 (Right of cancellation in relation to a single Subscriber), request that the Total Commitments relating to any Series be increased (and the Total Commitments relating to that Series shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments relating to that Series so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an Increase Lender”Subscriber) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender Subscriber corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderSubscriber in respect of those Commitments; (iv) each of the Obligors and any Increase Lender Subscriber shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender Subscriber would have assumed and/or acquired had the Increase Lender Subscriber been an Original LenderSubscriber in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender Subscriber shall become a Party as a “Lender” Subscriber and any Increase Lender Subscriber and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender Subscriber and those Finance Parties would have assumed and/or acquired had the Increase Lender Subscriber been an Original LenderSubscriber in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders Subscribers shall continue in full force and effect; and (vii) any increase in the Total Commitments shall relating to a Series shall, subject to the conditions set out in paragraph (d) below, take effect on the date specified by the Company Issuer in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Subscriber. (b) An increase The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which Subscriber once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase LenderSubscriber. (cd) An increase in the Commitments relating to a Series will only be effective if the Increase Subscriber enters into the documentation required for it to accede as a party to the Intercreditor Agreement. (e) Each Increase LenderSubscriber, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender Subscriber or Lenders Subscribers in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Subscriber. (df) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Issuer shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.22.5. (eg) The Company Increase Subscriber shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 29.5 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 29.7 (Procedure for assignment) and if the Increase Subscriber was a New Subscriber. (h) The Issuer may pay to the Increase Lender Subscriber a fee in the amount and at the times agreed between the Company Issuer and the Increase Lender Subscriber in a Fee Letter. (fi) Neither the Agent nor any Subscriber shall have any obligation to find an Increase Subscriber and in no event shall any Subscriber whose Commitment is replaced by an Increase Subscriber be required to pay or surrender any of the fees received by such Subscriber pursuant to the Finance Documents. (j) Clause 27.4 29.6 (Limitation of responsibility of Existing LendersSubscribers) shall apply mutatis mutandis in this Clause 2.2 2.5 in relation to an Increase Lender Subscriber as if references in that Clause to: (i) an Existing Lender” Subscriber were references to all the Lenders Subscribers immediately prior to the relevant increase; (ii) the New Lender” Subscriber were references to that Increase Lender”Subscriber; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 2 contracts

Sources: Note Subscription Agreement (CorpAcq Group PLC), Note Subscription Agreement (CorpAcq Group PLC)

Increase. (a) The Company Parent may by giving prior notice to the Agent by no later than the date falling 20 ten Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 8.1 (Illegality); or (B) paragraph (a) of Clause 8.5 (Right of cancellation and repayment in relation to a single Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount of amount up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall relating to a Facility shall, subject to the conditions set out in paragraph (d) below, take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) An increase in the Commitments relating to a Facility will only be effective on the date specified by the Parent in the notice referred to above. (e) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (df) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Parent shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (eg) The Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 26.5 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 26.7 (Procedure for transfer) and if the Increase Lender was a New Lender. (h) The Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter. (fi) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (j) Clause 27.4 26.6 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement, Senior Facilities Agreement

Increase. The Borrower may, from time to time, by means of a notice delivered to the Administrative Agent, request that the aggregate amount of the Commitments be increased by (a) The Company may increasing the amount of the Commitment of one or more Lenders that have agreed (in their sole and individual discretion) to such increase (each an “Increasing Lender”) and/or (b) adding one or more Eligible Assignees as parties hereto (each an “Additional Lender”) with Commitments in amounts agreed to by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: such Additional Lenders; provided that (i) the Available Commitments any such increase shall be in an aggregate amount of $50,000,000 or a Defaulting Lender in accordance with Clause 9.5 (Right higher integral multiple of cancellation in relation to a Defaulting Lender); or $5,000,000, (ii) the aggregate amount of any such increase shall not exceed $1,000,000,000, (iii) no Additional Lender shall be added as a party hereto without the written consent of the Administrative Agent to the extent such consent would be required for an assignment pursuant to Section 8.07 (which consent shall not be unreasonably withheld, conditioned or delayed), (iv) the aggregate Commitments after giving effect to any such increase shall not exceed $4,000,000,000, and (v) as a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate dated as of the Increase Effective Date (as defined below) signed by a Responsible Officer of the Borrower certifying that before and after giving effect to such increase (x) no Default has occurred and is continuing as of the date of such increase or would result from such increase and (y) each of the representations and warranties set forth in Section 4.01 are true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) as of the date of such increase, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date; provided, that for purposes of this Section 2.05(d), the representations and warranties contained in Section 4.01(e) shall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(i)(i) and 5.01(i)(ii). Any such increase in Commitments shall be effected pursuant to one or more Lender Joinder Agreements executed and delivered by the Borrower, the Administrative Agent and the Increasing Lenders and/or Additional Lenders, as applicable (the date on which such Lender Joinder Agreement(s) are delivered, the “Increase Effective Date”). The Lender Joinder Agreement(s) may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate in the opinion of the Administrative Agent, to effect the provisions of this Section 2.05(d). On the Increase Effective Date, (A) each applicable Lender shall advance the additional funds required (if any) to cause all outstanding Advances and unused Commitments to be held on a pro rata basis in accordance with Clause 9.1 the respective Commitments of each Lender after giving effect to such increase (Illegality)for each Lender, request its “Revised Percentage”) and (B) the Administrative Agent shall use any funds so received to repay the Advances of each Lender to the extent required so that such Lender has its Revised Percentage of all outstanding Advances (it being understood that the Total Commitments Borrower shall be increased (responsible for any break funding payments owing pursuant to Section 8.04(c) resulting from such repayments). The Administrative Agent shall promptly notify the Borrower and the Total Commitments shall be so increased) Lenders of any increase in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Grouppursuant to this Section 2.05(d) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either the Commitment of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2each Lender after giving effect thereto. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Revolving Credit Agreement (AbbVie Inc.), Revolving Credit Agreement (AbbVie Inc.)

Increase. (a) The Company Borrowers may by giving prior notice to the Agent by no later than the date falling 20 five (5) Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an “Increase Lender”) selected by the Company Borrowers (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Term and Revolving Facilities Agreement (KNOT Offshore Partners LP), Term and Revolving Facilities Agreement

Increase. (a) The Company Parent may by giving prior notice to the Agent by no later than the date falling 20 three Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 10.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 10.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) Parent and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Security Trust Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Parent, the Increase Lender and the Increase LenderIssuing Bank; and (iii) in the case of an increase in the Total Revolving Facility Commitments, the Issuing Bank consenting to that increase. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Parent shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter. (f) Clause 27.4 28.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Revolving Facility Agreement (South Texas Supply Company, Inc.), Revolving Facility Agreement (South Texas Supply Company, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 7.4 (Right of prepayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Defaulting Lender in accordance with paragraph (h) of Clause 9.1 7.4 (Right of prepayment and cancellation in relation to a single Lender); or (iii) the Commitments of a Lender in accordance with: (A) Clause 7.1 (Illegality); or (B) paragraph (a) of Clause 7.4 (Right of prepayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiiv) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds institutions (or any other entities person approved in writing by the Company) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing whether in the relevant Increase Confirmation or otherwise its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivv) each of the Obligors Company and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Company and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vvi) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vivii) the Commitments of the other Lenders shall continue in full force and effect; and (viiviii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Facility Agreement (Alibaba Group Holding LTD), Facility Agreement (Alibaba Group Holding LTD)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) of the Available Commitments Commitment or the Revolving Facility Commitment of a Defaulting an Illegal Lender in accordance with Clause 9.5 8.1 (Right of cancellation in relation to a Defaulting Lender); or (iiIllegality) the Commitments of a or Replaceable Lender in accordance with Clause 9.1 37.7 (IllegalityCancellation and repayment of a Replaceable Lender (other than an Illegal Lender), ) (such Available Commitment or Revolving Facility Commitment so cancelled being the “Cancelled Commitment”) request that the Total Revolving Facility Commitments be increased (and the Total Revolving Facility Commitments shall be so increased) in by an aggregate Base Currency Amount amount in Hong Kong dollars of up to the amount of the Available Commitments or Commitments so cancelled Cancelled Commitment as follows: (iiii) the such increased Revolving Facility Commitments will be assumed by one or more Lenders or persons (other banks, financial institutions, trusts, funds or other entities than a Group Member) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) Borrower and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the such increased Revolving Facility Commitments under that Facility which it is to assumeassume (the “Assumed Commitment” of such Increase Lender), as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the that Increase Lender been an Original Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement); (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender (with the Assumed Commitment in respect of such Increase Lender, in addition to any other Commitment which such Increase Lender may otherwise have in accordance with this Agreement) and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any such increase in the Total Revolving Facility Commitments shall take effect on the later of (1) the date specified by the Company Borrower in the notice referred to above or (2) any later date on which the conditions set out in paragraph (b) below are satisfiedsatisfied in respect of such increase. (b) An increase in the Total Revolving Facility Commitments pursuant to this Clause 2.2 will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the each relevant Increase LenderLender in respect of such increase, which the Agent shall execute promptly on request; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (Biii) in relation to an Increase Lender which is not a Lender immediately prior to the performance by relevant increase, the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Assumed Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase in Revolving Facility Commitments (to which such Increase Confirmation relates) becomes effective. (d) Unless The Borrower shall promptly on demand pay the Agent otherwise agrees and the Common Security Agent the amount of all costs and expenses (including legal fees) reasonably incurred by the Agent or the increased Commitment is assumed Common Security Agent (as applicable and, in the case of the Common Security Agent, by an existing Lender, the Company any Receiver or Delegate) in connection with any increase in Revolving Facility Commitments under this Clause 2.2. (e) An Increase Lender shall, on the date upon which the increase its assumption of any Assumed Commitment takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 25.2 (Assignment or transfer fee) if such assumption was a transfer pursuant to Clause 25.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (ef) The Company Borrower may pay to the an Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the that Increase Lender in a Fee Letter. (fg) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increaseincrease in Revolving Facility Commitments; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively to, respectively, a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Melco Resorts & Entertainment LTD), Amendment and Restatement Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 8.1 (Illegality); or (B) paragraph (a) of Clause 8.5 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount of amount up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender. No Lender (or any successor thereto) shall have any obligations to increase its Commitment in relation to any Facility or incur any other obligations under this Agreement and the other Finance Documents whatsoever, and any decision by a Lender to increase its Commitment in relation to any Facility shall be made in it sole discretion independently from any other Lender; (viii) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by increase the Agent of being satisfied that it has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fe) Clause 27.4 24.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment".

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Alliance Data Systems Corp), Senior Facilities Agreement (Alliance Data Systems Corp)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.1 (Right of cancellation in relation to a Defaulting LenderIllegality); or (ii) the Commitments of a Lender in accordance with Clause 9.1 36.5 (IllegalityReplacement of a Lender), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the applicable Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds funds, entities or other entities persons (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) , and which is further acceptable satisfies all the Agent's "know your customer" or similar checks referred to the Agent in paragraph (acting reasonablyb)(ii)(B) below, and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender (for the avoidance of doubt, no Party shall be obliged to assume the obligations of a Lender pursuant to this sub-paragraph (A) without the prior consent of that Party)); (ivB) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;Lender which the Agent shall, if all applicable conditions set out in this Clause are satisfied, execute promptly on request; 50 Project Meria: Senior Facilties Agreement (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor AgreementAgreement in the applicable capacity; and (B) the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 24.5 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 24.7 (Procedure for transfers) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) The Company (or another member of the Group) may pay to the Increase Lender a fee in the amount and at the times agreed between the Company (or another member of the Group) and the Increase Lender in a Fee Letter. (f) Clause 27.4 24.6 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment. (g) The Finance Parties shall be required to enter into any amendment to the Finance Documents (including in relation to any changes to, the taking of, or the release coupled with the retaking of, Transaction Security in accordance with the Intercreditor Agreement) required by the Company in order to facilitate or reflect any of the matters contemplated by this Clause 2.3. The Agent and the Security Agent are each authorised and instructed by each Finance Party (without any consent, sanction, authority or further confirmation from them) to execute any such amended or replacement Finance Documents (and shall do so on the request of and at the cost of the Company).

Appears in 2 contracts

Sources: Senior Facilities Agreement (Atlas Investissement), Senior Facilities Agreement (Atlas Investissement)

Increase. (a) The Company Italian Borrower may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 8.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Italian Borrower (each of which shall not be an Investor Affiliate a Qualified Shareholder or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original existing Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Italian Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Italian Borrower and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Italian Borrower shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand effect pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate Agent in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 24.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 2 contracts

Sources: Multicurrency Revolving Facility Agreement (Luxottica Group Spa), Facility Agreement (Luxottica Group Spa)

Increase. (a) The Company Parent may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 11.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 11.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an "Increase Lender") selected by the Company Parent (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A1) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B2) the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Parent and the Increase Lender.; and (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Parent shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 1,000 and the Company Parent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter. (f) Clause 27.4 30.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment".

Appears in 1 contract

Sources: Senior Term and Revolving Facilities Agreement (Inspired Entertainment, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender under a Facility in accordance with paragraph (d) of Clause 9.5 9.7 (Right of repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments Commitment of a Lender under a Facility in accordance with Clause 9.1 (Illegality), request that the Total Commitments under that Facility be increased (and the Total aggregate Commitments under the relevant Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume such obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the The Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 1,000 and the Company shall within three (3) Business Days of demand shall, promptly on demand, pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (f) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Senior Term and Revolving Facilities Agreement (Melrose PLC)

Increase. (a) The Company may by giving prior notice Subject to the Agent by no later than satisfaction or waiver of the date falling 20 Business Days conditions precedent set forth in Section 7 hereof, but immediately after giving effect to the effective date of a cancellation of: transactions described in Section 3 hereof, (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or Increase shall become effective, (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Additional Revolving Lender shall become a Party as “Revolving Lender” and a “Lender” under the Credit Agreement and any Increase (iii) each Additional Revolving Lender shall have all the rights and each obligations of a “Revolving Lender” and a “Lender” holding a Revolving Commitment or a Revolving Loan under the Credit Agreement and the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred Loan Documents with respect to above or any later date on which the conditions set out in paragraph (b) below are satisfiedits Additional Revolving Commitment. (b) An increase in Upon the Total Commitments will only be effective on: (i) effectiveness of the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Increase, each Revolving Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it will automatically and without further action be deemed to accede as a party have assigned to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase each Additional Revolving Lender, the completion and each such Additional Revolving Lender will automatically and without further act be deemed to have assumed, a portion of which the Agent shall promptly notify to the Company and the Increase such Revolving Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, ’s participations in the case of outstanding LC Exposure under the Security AgentCredit Agreement such that, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay after giving effect to the Increase and each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding LC Exposure under the Credit Agreement held by each Revolving Lender a fee in (including each such Additional Revolving Lender) will equal such Revolving Lender’s Applicable Percentage. For purposes of the amount and foregoing, “Applicable Percentage” shall mean, with respect to any Revolving Lender at any time, the times agreed between percentage of the Company and the Increase Lender in a Fee Letteraggregate Revolving Commitments of all Revolving Lenders represented by such Revolving Lender’s Revolving Commitment at such time. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Amendment No. 1 to the Amended and Restated Credit Agreement (Chemours Co)

Increase. (a) The Company WBA may at any time from time to time, upon prior written notice by giving prior notice WBA to the Agent Administrative Agent, increase the Commitments by no later than a maximum aggregate amount of up to Five Hundred Million Dollars ($500,000,000) with additional Commitments from any existing Lenders and/or with new Commitments from any other Person selected by WBA and reasonably acceptable to the date falling 20 Business Days after the effective date of a cancellation ofAdministrative Agent; provided that: (i) the Available Commitments any such increase shall be in a minimum principal amount of a Defaulting Lender $10,000,000 and in accordance with Clause 9.5 (Right integral multiples of cancellation $1,000,000 in relation to a Defaulting Lender); orexcess thereof; (ii) no Default or Unmatured Default shall exist and be continuing at the Commitments time of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows:any such increase; (iii) the increased Commitments will no existing Lender shall be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase under any obligation to increase its Commitment and any such decision whether to increase its Commitment shall be in such Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) ’s sole and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lenderabsolute discretion; (iv) each of the Obligors and (A) any Increase new Lender shall assume obligations towards one another join this Agreement by executing such joinder documents required by the Administrative Agent and/or acquire rights against one another as (B) any existing Lender electing to increase its Commitment shall have executed a commitment agreement reasonably satisfactory to the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;Administrative Agent; and (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each condition precedent to such increase, WBA shall (x) deliver to the Administrative Agent a certificate dated as of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been date of such increase signed by an Original Lender; (vi) the Commitments Authorized Officer of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: WBA (A) certifying and attaching the Increase Lender entering into the documentation required for it resolutions adopted by WBA approving or consenting to accede as a party to the Intercreditor Agreement; and such increase, and (B) certifying that, before and after giving effect to such increase, (1) the performance by representations and warranties contained in Article V are true and correct in all material respects (except to the Agent of all necessary extent such representations and warranties are qualified with know your customermateriality” or other “Material Adverse Effect” or similar checks under terms, in which case such representations and warranties shall be true and correct in all applicable laws respects) on and regulations in relation as of the date of such increase, except to the assumption extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date and (2) no Default or Unmatured Default exists immediately before or after giving effect to the incurrence of such increase and (y) pay any applicable fee related to such increase (including, without limitation, any applicable arrangement, upfront and/or administrative fee). In connection with the effectiveness of any increase under this Section 2.01(b), (x) the Commitment Schedule shall be deemed amended to reflect such increase and the updated Commitments and Pro Rata Shares of the increased Commitments by that Increase LenderLenders, (y) the completion of which the Administrative Agent shall promptly notify WBA and the Lenders of the updated Commitment Schedule and (z) to the Company and extent necessary to keep any outstanding Loans allocated ratably to the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on their updated Pro Rata Shares, WBA shall prepay (or, if the Administrative Agent determines in its sole discretion that a re-allocation of the Loans can be accomplished without any cash prepayments or prior new cash Loans by the Lenders, be deemed to the date on which the increase becomes effective. (dhave prepaid) Unless the Agent otherwise agrees or the increased Commitment is assumed any Loans owing by an existing Lender, the Company shall, it and outstanding on the date upon which the of any such increase takes effect(and pay any additional amounts required pursuant to Section 3.04). The provisions of this Section 2.01(b) involving non-pro rata allocations, pay prepayments and Loans shall supersede any provisions in Sections 2.18 or 8.02 to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2contrary. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Delayed Draw Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Increase. The Borrower may request at any time and from time to time that the aggregate amount of the Revolving Loan Commitment be increased up to a maximum amount of $885,000,000; provided that (ai) The Company may by giving prior notice no increase in the Revolving Loan Commitment shall be made at a time when a Default or Event of Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Revolving Loan Commitment shall be made at any time after the Revolving Loan Commitment has been terminated or reduced, (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) no more than two such increases shall be made between the Effective Date and the Maturity Date, (v) the Borrower shall have delivered to the Agent by no later than certified resolutions of the Board of Directors of the Borrower approving such increase and borrowings in connection therewith and (vi) all of the representations and warranties set forth in Section 6 (except for those contained in Sections 6.7 and 6.10) shall be true and correct in all material respects as of the date falling 20 Business Days after of such request and as of the effective date of such increase. In the event of such a cancellation of: requested increase in the Revolving Loan Commitment, (i) each of the Available Commitments Lenders shall be given the opportunity to participate in the increased Revolving Loan Commitment (x) initially to the extent of a Defaulting Lender such Lender’s existing Commitment Percentage and (y) to the extent that the requested increase of the Revolving Loan Commitment is not fulfilled pursuant to the preceding clause (x), ratably in accordance with Clause 9.5 (Right the proportion that the respective Commitment Percentages of cancellation the Lenders desiring to participate in relation the requested increase bear to a Defaulting Lender); or the total of the Commitment Percentages of the increasing Lenders, and (ii) to the extent that the Lenders do not elect so to participate in such increased Revolving Loan Commitment after an opportunity to do so, then the Borrower shall consult with the Agent as to the number, identity and requested Revolving Loan Commitments of a Lender in accordance with Clause 9.1 (Illegality), request additional financial institutions that the Total Commitments be increased (Agent may invite to participate in the aggregate Revolving Loan Commitment. The Agent will not unreasonably refuse to so invite a commercial bank organized under the laws of the United States or of any State thereof, identified and requested by the Borrower, that has capital and surplus reasonably satisfactory to the Agent in light of the Revolving Loan Commitment which such commercial bank would assume hereunder. The Agent shall promptly notify the Borrower and the Total Commitments shall be so increased) Lenders of any increase in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member aggregate Revolving Loan Commitment pursuant to this Section and of the Group) respective adjusted Revolving Loan Commitment and which is further acceptable Commitment Percentage of each Lender after giving effect thereto. The Borrower acknowledges that, in order to maintain Loans in accordance with the Agent (acting reasonably) and Commitment Percentage of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Revolving Loan Commitment may require prepayment or funding of all or portions of certain Revolving Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Credit Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Credit Agreement (Integrys Energy Group, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 7.4 (Right of prepayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Defaulting Lender in accordance with paragraph (h) of Clause 9.1 7.4 (Right of prepayment and cancellation in relation to a single Lender); or (iii) the Commitments of a Lender in accordance with: (A) Clause 7.1 (Illegality); or (B) paragraph (a) of Clause 7.4 (Right of prepayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiiv) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds institutions (or any other entities person approved in writing by the Company) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing whether in the relevant Increase Confirmation or otherwise its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivv) each of the Obligors Company and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Company and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vvi) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vivii) the Commitments of the other Lenders shall continue in full force and effect; and (viiviii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement

Increase. (a) The Company may by by, giving not less than 60 days' prior notice to the Agent Agent, request that the Term Facility Commitments be increased (and the Term Facility Commitments shall be so increased) by no later than an amount which, when aggregated with the date falling 20 Business Days after amount of any previous increase of the effective date of a cancellation ofTerm Facility Commitments under this Clause 2.2, does not exceed US$40,000,000 as follows: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Term Facility Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms must have confirmed in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Term Facility Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Term Facility Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Term Facility Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An Subject to paragraph (d) below, an increase in the Total Term Facility Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) to the extent applicable, the Agent receiving from the Company a copy of the application to, and approval of, the Financial Surveillance Department of the South African Reserve Bank in connection with the transactions contemplated under this Clause 2.2 in form and substance satisfactory to the Agent (acting reasonably); and (iii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Parent and the Increase LenderLender upon the conditions in paragraphs (i) and (ii) above being satisfied. (c) No Lender is under any obligation to become an Increase Lender and does so at its own discretion. (d) An increase in the Term Facility Commitments will be subject to and conditional upon the following conditions: (i) the Company delivering a certificate to the Agent in form and substance satisfactory to the Agent certifying that the financial covenants set out in Clause 22 (Financial Covenants) required to be complied with for the most recent Relevant Period in respect of which financial statements and a Compliance Certificate have been delivered to the Agent would have been complied if recalculated for that most recent Relevant Period (on a pro forma basis after taking into account the Financial Indebtedness in respect of the increased Term Facility Commitments as if all of those increased Term Facility Commitments had been utilised in full at the end of that most recent Relevant Period); (ii) the Margin on the Term Loans made available pursuant to this Clause 2.2 does not exceed 0.5 per cent. above the then applicable Margin on the Term Loan; (iii) the Term Loans made available pursuant to this Clause 2.2 shall have a maturity date which is after the Termination Date for the Term Loan made on the Closing Date and a weighted average life to maturity which is longer than of the remaining average life to maturity of the Term Loan made on the Closing Date; (iv) no Default shall have occurred and be continuing or would occur as a result of a Utilisation of a Term Loan made available pursuant to this Clause 2.2; (v) each Borrower applies all amounts borrowed by it under this Clause 2.2 towards Permitted Acquisitions; (vi) each Obligor having entered into such guarantee and security confirmations and/or confirmatory security as may be reasonably requested by the Agent; (vii) the Investors shall have provided, at the same time as any Utilisation of a Term Loan made available pursuant to this Clause 2.2, New Shareholder Injections into the Borrower in an amount at least equal to that Utilisation of the applicable Term Loan made available pursuant to this Clause 2.2; and (viii) the Lenders shall have been given a first right of refusal to participate as an Increase Lender provided, for the avoidance of doubt, that the Company may select lenders at its discretion on the basis of the most competitive pricing. The Agent is authorised to enter into, on behalf of each of the Finance Parties, documentation required to reflect these altered terms. (e) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (df) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the The Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (eg) The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 27.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 27.5 (Procedure for transfer) and if the Increase Lender was a New Lender. (h) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fi) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with paragraph (f) of Clause 9.5 7.6 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments Commitment of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another (in relation to the part of the increased Commitments which the Increase Lender assumes) as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender and had the increased Commitments been original Commitments; (viii) each Increase Lender which is not a Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another (in relation to the part of the increased Commitments which the Increase Lender assumes) as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender and had the increased Commitments been original Commitments; (viiv) the Commitments of the other Lenders and, if the Increase Lender is already a Lender, its existing Commitment, shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) : the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Borrower and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2EUR 3,000. (e) The Company Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a letter between the Borrower and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Credit Facility Agreement (Saturn Expansion Corp)

Increase. (aA) The Company may may, by giving prior notice to the Agent by no not later than the date falling 20 ten Business Days after the effective date of a cancellation of: (i1) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 10.5 (Right of cancellation in relation to a Defaulting Lender); or (ii2) the Commitments of a Lender in accordance with with: (a) paragraph (E) of Clause 9.1 2.2 (Extension of Facility); (b) Clause 10.1 (Illegality); or (c) paragraph (A) of Clause 10.4 (Right of cancellation and repayment in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiii) subject to paragraph (J) below, the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of executes an otherwise duly completed Increase Confirmation from delivered to it by the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and. (B) The Agent shall, subject to paragraph (C) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the performance terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Increase Confirmation. (C) The Agent shall only be obliged to execute an Increase Confirmation delivered to it by the Agent of an Increase Lender once it is satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cD) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (dE) Unless The Company shall promptly on demand pay the Agent otherwise agrees or the increased Commitment is assumed amount of all costs and expenses (including legal fees) reasonably incurred by an existing Lenderit in connection with any increase in Commitments under this Clause 2.3, provided that the Company has approved the fee arrangements of any professional advisers involved. (F) Each Increase Lender shall, on the date upon which the relevant increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 29.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 29.6 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (eG) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fH) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (I) Clause 27.4 29.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Multicurrency Revolving Facility Agreement (Endava PLC)

Increase. (a) The Company Obligors’ Agent may by giving prior notice to the Agent by no later than the date falling 20 Business Days Interim Facility Agent, to take effect on or after the effective date of a cancellation of: (i) the Available undrawn Interim Commitments of a Defaulting Lender in accordance with Clause 9.5 paragraph 3 of Part II (Right of cancellation in relation to a Defaulting Lender)) of this Schedule 6; or (ii) the Interim Commitments of a an Interim Lender in accordance with Clause 9.1 10.3 (Illegality)) or paragraph 1 (Replacement of an Interim Lender) above, request that the Total Interim Commitments relating to the Interim Facility be increased (and the Total Interim Commitments relating to the Interim Facility shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available undrawn Interim Commitments or Interim Commitments relating to the Interim Facility so cancelled as followsdescribed in the following paragraphs. (b) Following a request as described in paragraph (a) above: (iiii) the increased Interim Commitments will be assumed by one or more Interim Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Obligors’ Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a an Interim Lender corresponding to that part of the increased Interim Commitments which it is to assume, as if it had been an Original Interim Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Interim Lender; (viii) each Increase Lender shall become a Party as a “Lender” an Interim Lender and any Increase Lender and each of the other Interim Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Interim Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Interim Lender; (viiv) the Interim Commitments of the other Interim Lenders shall continue in full force and effect; and (viiv) any increase in the Total Interim Commitments relating to the Interim Facility shall take effect on the date specified by the Company Obligors’ Agent in the notice referred to above or any later date on which the conditions set out in paragraph (bc) below are satisfied. (bc) An increase in the Total Interim Commitments relating to the Interim Facility will only be effective onon the later of: (i) the execution by the Interim Facility Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a an Interim Lender immediately prior to the relevant increase: (A) increase the Increase Lender entering into the documentation required for Interim Facility Agent being satisfied that it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Interim Commitments by that Increase Lender, the completion of which the . The Interim Facility Agent shall promptly notify to the Company Obligors’ Agent and the Increase LenderLender upon being so satisfied; and (iii) if applicable, the date on which any corresponding Interim Commitments referred to in paragraph (a) were cancelled. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Interim Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Interim Lender or Interim Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay Interim Facility Agent shall, as soon as reasonably practicable after it has executed an Increase Confirmation, send to the Obligors’ Agent a copy of that Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee LetterConfirmation. (f) Clause 27.4 22.3 (Limitation of responsibility of Existing Interim Lenders) shall apply mutatis mutandis in this Clause 2.2 paragraph 2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Interim Lender were references to all the Interim Lenders immediately prior to the relevant increase; (ii) the New Lender” Interim Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Interim Facilities Agreement (Quanex Building Products CORP)

Increase. (a) The Company Parent may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 clause 7.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 clause 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company Parent (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (bclause 2.2(b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor AgreementDeed; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Parent and the Increase Lender.; (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Parent shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 3,000 and the Company Parent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent Trustee the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security AgentTrustee, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2clause 2.2(d). (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter. (f) Clause 27.4 26.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause clause 2.2 in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Amendment and Restatement Agreement (Sunrise Senior Living Inc)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.1 (Right of cancellation in relation to a Defaulting LenderIllegality); or (ii) the Commitments of a Lender in accordance with Clause 9.1 36.5 (IllegalityReplacement of a Lender), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the applicable Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds funds, entities or other entities persons (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) , and which is further acceptable satisfies all the Agent's "know your customer" or similar checks referred to the Agent in paragraph (acting reasonablyb)(ii)(B) below, and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender (for the avoidance of doubt, no Party shall be obliged to assume the obligations of a Lender pursuant to this sub-paragraph (A) without the prior consent of that Party)); (ivB) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase LenderLender which the Agent shall, if all applicable conditions set out in this Clause are satisfied, execute promptly on request; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor AgreementAgreement in the applicable capacity; and (B) the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 24.5 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 24.7 (Procedure for transfers) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) The Company (or another member of the Group) may pay to the Increase Lender a fee in the amount and at the times agreed between the Company (or another member of the Group) and the Increase Lender in a Fee Letter. (f) Clause 27.4 24.6 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment. (g) The Finance Parties shall be required to enter into any amendment to the Finance Documents (including in relation to any changes to, the taking of, or the release coupled with the retaking of, Transaction Security in accordance with the Intercreditor Agreement) required by the Company in order to facilitate or reflect any of the matters contemplated by this Clause 2.3. The Agent and the Security Agent are each authorised and instructed by each Finance Party (without any consent, sanction, authority or further confirmation from them) to execute any such amended or replacement Finance Documents (and shall do so on the request of and at the cost of the Company).

Appears in 1 contract

Sources: Senior Facilities Agreement (Atlas Investissement)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with paragraph (f) of Clause 9.5 8.8 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments Commitment of a Lender in accordance with with: (A) Clause 9.1 8.1 (Illegality); or (B) paragraph (a) of Clause 8.8 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an "Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and "), each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume assume, and does assume assume, all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viii) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (de) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 22.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 22.6 (Procedure for transfer) and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to if the Increase Lender was a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee LetterNew Lender. (f) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (g) Clause 27.4 22.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a "re-transfer" and "re-assignment" were references to respectively to, respectively, a "transfer" and "assignment".

Appears in 1 contract

Sources: Bridge Facility Agreement

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (d) of Clause 9.5 7.6 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 7.1 (Illegality); or (B) paragraph (a) of Clause 7.6 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant delivered to it by an Increase Lender; (ii) Lender once it is satisfied that it has complied with, in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of , all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (de) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lenderotherwise, the Company shall, on the date upon which the increase Increase takes effect, pay to the Agent (for its own account) a fee of £1,500 2,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph (f). (fg) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (h) Clause 27.4 23.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment".

Appears in 1 contract

Sources: Facility Agreement

Increase. (a) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 5 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with Clause 9.5 8.7 (Right of cancellation Cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 8.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; it being understood and agreed, for the avoidance of doubt, that nothing herein shall place any Lender under an obligation to assume any such increased Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume the same obligations towards one another and acquire the same rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) . the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 23.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Amendment Agreement (Coca-Cola HBC AG)

Increase. (a) Notwithstanding Clause 2.1 (The Original Revolving Facility) above, and in addition to paragraph (b) below, the Company may with the prior consent of a Lender, any bank, financial institution, trust, fund or any other entity selected by the Company (each an Increase Lender) and by giving 5 Business Days prior notice to the Facility Agent (or such shorter period as may be agreed between the Company and the Facility Agent (without any requirement for consent from any other Finance Party)), increase the Commitments under any Facility by including any new Commitments of any Increase Lender provided that: (i) no Event of Default is continuing; and (ii) each Increase Lender confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume as if it had been an Original Lender by executing an Increase Confirmation. 63140965_9 (b) The Company may by giving prior notice to the Facility Agent by no later than the date falling 20 thirty Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments relating to any Facility be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate Base Currency Amount amount in the relevant currency of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) and the increased Commitments will be assumed by one or more Increase Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, assume as if it had been an Original Lender;Lender by executing an Increase Confirmation. (ivc) each Each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;. (vd) each Each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;. (vie) the The Commitments of the other Lenders shall continue in full force and effect; and (viif) any An increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the any relevant notice referred to in paragraph (a) or (b) above (as applicable) or any later date on which the conditions set out in paragraph (bg) below are satisfied. (bg) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which 63140965_9 the Facility Agent shall promptly notify to the Company and the Increase Lender. (ch) The Company may pay to any Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender. (i) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (dj) Unless The execution by the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 Parent and the Company of an Increase Confirmation constitutes confirmation from each Guarantor that its obligations under Clause 21 (Guarantee and Indemnity) shall within three (3) Business Days of demand pay continue unaffected except that those obligations shall extend to the Agent and Total Commitments as increased by the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case addition of the Security Agent, by new Commitments of any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender and shall be owed to each Finance Party including the relevant Lender. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fk) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.4 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Senior Facilities Agreement (Liberty Global PLC)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 7.6 (Right of prepayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Defaulting Lender in accordance with paragraph (h) of Clause 9.1 7.6 (Right of prepayment and cancellation in relation to a single Lender); or (iii) the Commitments of a Lender in accordance with: (A) Clause 7.1 (Illegality); or (B) paragraph (a) of Clause 7.6 (Right of prepayment and cancellation in relation to a single Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iiiiv) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds institutions (or any other entities person approved in writing by the Company) (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing whether in the relevant Increase Confirmation or otherwise its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vvi) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vivii) the Commitments of the other Lenders shall continue in full force and effect; and (viiviii) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 23.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facilities Agreement (Alibaba Group Holding LTD)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 clause 10.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 clause 10.1 (Illegality), request that the Total Commitments under the relevant Facilities be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (bclause 2.2(b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the The Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal feesfees subject to any cap agreed in advance between the Company and the Agent) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2incurred. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 28.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause clause 2.2 in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Senior Facilities Agreement (Luxfer Holdings PLC)

Increase. Whirlpool may request at any time and from time to time that the Aggregate Commitment be increased up to a maximum amount of $200,000,000; provided that (ai) The Company may by giving prior notice no increase in the Aggregate Commitment shall be made at a time when a Default or Unmatured Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Aggregate Commitment shall be made at any time after the Aggregate Commitment has been terminated or reduced in accordance with Section 2.03(c)(i), (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) Whirlpool shall have delivered to the Administrative Agent by no later than certified resolutions of the Board of Directors of Whirlpool authorizing such increase and borrowings in connection therewith and (v) all of the representations and warranties set forth in Article 6 (except for those contained in Sections 6.04, 6.05 and 6.07) shall be true and correct in all material respects as of the date falling 20 Business Days after of such request and as of the effective date of a cancellation of: (i) such increase. Any Lender may refuse to participate in any proposed increase in the Available Commitments of a Defaulting Lender Aggregate Commitment, and failure to respond to any request to participate in accordance with Clause 9.5 (Right of cancellation an increase in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Aggregate Commitments shall be deemed to constitute a refusal to so increased) participate. In the event of such a requested increase in the Commitment, Whirlpool shall consult with the Administrative Agent as to the number, identity and requested Commitments of Extending Lenders and additional financial institutions that the Administrative Agent may invite to participate in the aggregate Commitment. The Administrative Agent will not unreasonably refuse to so invite a commercial bank organized, identified and requested by Whirlpool, that has capital and surplus reasonably satisfactory to the Administrative Agent in light of the Commitment which such commercial bank would assume hereunder; provided that each such assuming commercial bank shall, upon becoming a party to this Agreement, become an aggregate Base Currency Amount Extending Lender. The Administrative Agent shall promptly notify Whirlpool and the Lenders of up to any increase in the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member Aggregate Commitment pursuant to this Section and of the Group) respective adjusted Commitment and which is further acceptable Ratable Share of each Lender after giving effect thereto. Each Borrower acknowledges that, in order to maintain Advances in accordance with the Agent (acting reasonably) and Ratable Share of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Commitment may require prepayment or funding of all or portions of certain Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Credit Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 9.6 (Right of repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality) or Clause 9.2 (Restrictions on participation in Bank Guarantees), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonablyreasonably on the basis of all applicable laws and regulations)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Company, the Increase Lender and the Increase LenderFronting Banks; and (B) the Fronting Banks consenting to that increase. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 €5,000 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including duly documented legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (f) Clause 27.4 26.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a “re-transfer” "re‑transfer" and “re-assignment” "re‑assignment" were references to respectively a "transfer" and "assignment"."

Appears in 1 contract

Sources: Facility Agreement (Whirlpool Corp /De/)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 12.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with; (A) Clause 9.1 12.1 (Illegality); or (B) paragraph (a) of Clause 12.5 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions which are Qualifying Swiss Lenders (each an "Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender.; (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase or acquisition becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fe) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (ii) the "New Lender" were references to that "Increase Lender"; and (iii) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment."

Appears in 1 contract

Sources: Facilities Agreement (Syngenta Ag)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation ofof the Commitments of a Lender in accordance with: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 clause 7.1 (Right of cancellation in relation to a Defaulting LenderIllegality); or (ii) the Commitments clause 7.6 (a) (Right of replacement or repayment and cancellation in relation to a Lender in accordance with Clause 9.1 (Illegality), single Lender) request that the Total Commitments relating to the Facility be increased (and the Total Commitments relating to the Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments relating to the Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments relating to the Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Agent shall, subject to clause 2.2(c), as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (de) Unless The Company shall within 5 Business Days of demand pay the Agent otherwise agrees or the increased Commitment is assumed amount of all costs and expenses (including legal fees) reasonably incurred by an existing Lender, the Company it in connection with any increase in Commitments under this clause 2.2. (f) The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under clause 21.4 (Assignment or transfer fee) if the increase was a transfer pursuant to clause 21.6 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (eg) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this clause 2.2(g). (fh) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (i) Clause 27.4 21.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause clause 2.2 in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Backstop Facility Agreement

Increase. (a) Notwithstanding Clause 2.1 (The Company Facilities) above, and in addition to paragraph (b) below, the Parent may with the prior consent of a Lender, any bank, financial institution, trust, fund or any other entity selected by the Parent (each an “Increase Lender”) and by giving 10 Business Days prior notice to the Facility Agent, increase the Commitments under any Facility by including any new Commitments of any Increase Lender provided that: (i) other than in relation to an increase in Commitments to facilitate a refinancing of the US$ B4 Facility, the EUR B4 Facility and/or any Bidco Additional Facility under the Acquisition Facilities Agreement, no Event of Default is continuing; (ii) other than in relation to an increase in Commitments to facilitate a refinancing of the US$ B4 Facility, the EUR B4 Facility and/or any Bidco Additional Facility under the Acquisition Facilities Agreement, it shall be a condition to any Utilisation of any new Commitment that the Parent shall certify in the relevant Utilisation Request that the ratio of Senior Net Debt to Annualised EBITDA shall be no greater than 4.50:1 on a pro forma basis (taking into account such drawing and the use of proceeds of such drawing); (iii) if such an increase in Commitments relates to a refinancing of the US$ B4 Facility, the EUR B4 Facility and/or any Bidco Additional Facility under the Acquisition Facilities Agreement: (A) an Advance or Advances (as applicable) under the relevant Facility shall be deemed to have been borrowed by a Borrower notified by the Parent to the Facility Agent in an amount notified by the Parent to the Facility Agent of up to the US$ B4 Facility Refinancing Amount, the EUR B4 Facility Refinancing Amount and/or the Bidco Additional Facility Refinancing Amount; and (B) accrued interest on that Advance or such Advances under the Acquisition Facilities Agreement will be carried forward into the relevant Facility and the first Interest Period payment date for that deemed Advance or such Advances shall correspond with the end of the Interest Period selected in the relevant utilisation request for the relevant Advance or Advances under the Acquisition Facilities Agreement, and for the avoidance of doubt, there shall be no requirement to meet any incurrence test or certify compliance with any financial covenants in relation to such increase in Commitments; and (iv) each Increase Lender confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume as if it had been an Original Lender by executing an Increase Confirmation. (b) The Parent may by giving prior notice to the Facility Agent by no later than the date falling 20 30 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 12.5 (Right of cancellation Cancellation in relation Relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 21 (Illegality), request that the Total Commitments relating to any Facility be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate Base Currency Amount amount in the relevant currency of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) and the increased Commitments will be assumed by one or more Increase Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, assume as if it had been an Original Lender;Lender by executing an Increase Confirmation. (ivc) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Each Increase Lender shall become a Party party to this Agreement as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;. (vid) the The Commitments of the other Lenders shall continue in full force and effect; and. (viie) any An increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company Parent in the any relevant notice referred to in paragraph (a) or (b) above (as applicable) or any later date on which the conditions set out in paragraph (bf) below are satisfied. (bf) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Senior Facilities Agreement (Liberty Global PLC)

Increase. (a) The Company Obligors’ Agent may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 9.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Obligors’ Agent (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms confirms, at that time, its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender, provided that for the avoidance of doubt no Lender shall have any obligation under this paragraph (A) to make such a confirmation; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;Lender;1 (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company Obligors’ Agent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and 1 The Transaction Security and guarantees provided under this Agreement may not in all jurisdictions continue to secure or guarantee the Increased Commitment or be for the benefit of the Increase Lender. It is the responsibility of the Increase Lender to ascertain whether any other documents or other formalities are required to confirm the Transaction Security and/or guarantees in any jurisdiction and/or for it to benefit from such Transaction Security and/or guarantees and, if so, to arrange for execution of those documents and completion of those formalities. (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Obligors’ Agent, and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lenderagrees, the Company Obligors’ Agent shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 EUR 2,000 and the Company Obligors’ Agent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent Trustee the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security AgentTrustee, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Obligors’ Agent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Obligors’ Agent and the Increase Lender in a Fee Letter. (f) Clause 27.4 25.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (InterXion Holding N.V.)

Increase. (a) The Company may by giving prior notice to the Facilities Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment and/or the Available Swingline Commitment of a Defaulting Lender (or its Affiliate) in accordance with Clause 9.5 13.6(g) (Right Involuntary prepayment and cancellation and replacement of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender (or its Affiliate) in accordance with Clause 9.1 13.1 (IllegalityMandatory prepayment - illegality), request that the Total Commitments or the relevant Swingline Commitments be increased (and the Total Commitments under that Facility or the relevant Swingline Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments Available Swingline Commitment so cancelled as follows: (iii) the increased Commitments and/or relevant Swingline Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Carnival Corporation & plc Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Defaulting Lender corresponding to that part of the increased Commitments and/or relevant Swingline Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and (where appropriate) “Swingline Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments and Swingline Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments and/or the relevant Swingline Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments and/or the relevant Swingline Commitments will only be effective on: (i) the execution by the Facilities Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Facilities Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments and/or the relevant Swingline Commitments by that Increase Lender, the completion of which the Facilities Agent shall promptly notify to the Company and the Increase Lender. (c) No Swingline Commitment of a Lender may exceed the Commitment of that Lender or its Affiliate pursuant to the operation of this Clause 2.2. Accordingly where the Swingline Commitments are to be increased pursuant to this Clause to replace Swingline Commitments of a Swingline Lender that have been cancelled pursuant to Clause 13.6(g) (Involuntary prepayment and cancellation and replacement of Lender) or Clause 13.1 (Mandatory prepayment - illegality) without a commensurate cancellation of the Commitments of that Swingline Lender’s Affiliate being required at the time of such cancellation, that Affiliate shall (to the extent of its Commitments at the time of the increase in Swingline Commitments) be required to transfer its Commitments to the relevant Increase Lender (or its Affiliate) on the terms provided for in Clause 40.4 (Replacement of a Defaulting Lender) to the extent necessary to ensure that the Commitments of the Increase Lender (or its Affiliate) are at least equal to each of the Swingline Commitments assumed by that Increase Lender. (d) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facilities Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (de) Unless the Facilities Agent otherwise agrees or the increased Commitment and/or Swingline Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Facilities Agent (for its own account) a fee of £1,500 USD3,500 and the Company shall within three (3) Business Days of promptly on demand pay to the Agent and the Security Facilities Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (fg) Clause 27.4 29.3 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a “re-transfer” re‑transfer and “re-assignment” re‑assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Multicurrency Revolving Facilities Agreement (Carnival PLC)

Increase. (a) The Company Subject to Clause 39.7 (Restriction on Debt Purchase Transactions), the Parent may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 11.6 (Right of cancellation in relation to a Defaulting Lender); or; (ii) the Commitments of a Lender in accordance with Clause 9.1 11.1 (Illegality); or (iii) any Commitments of a Lender in accordance with Clause 39.5 (Replacement of Lender), request that the Total Commitments relating to any Facility be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount in the applicable currency of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks▇▇▇▇▇, financial institutions, trusts, funds funds, entities or other entities persons (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) Parent and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase LenderLender which the Agent shall execute promptly on request; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Parent, the Increase Lender and the Issuing Bank. (iii) in the case of an increase in the Total Commitments, the relevant Issuing Bank consenting to the identity of the relevant Increase LenderLender (unless that Increase Lender is a person with a long term corporate credit rating equal to or better than BBB or Baa2 (as applicable) according to at least two of Moody’s, S&P and Fitch). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 28.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 28.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter. (f) Clause 27.4 28.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”. (g) the Finance Parties shall be required to enter into any amendment to the Finance Documents (including, without limitation, in relation to any changes to, the taking of, or the release coupled with the retaking of, Transaction Security) required by the Parent (and not prejudicial to the interests of the Finance Parties) in order to facilitate or reflect any of the matters contemplated by this Clause 2.2. The Agent and the Security Agent are each authorised and instructed by each Finance Party to execute any such amended or replacement Finance Documents (and shall do so on the request of and at the cost of the Parent). (h) Nothing in this Clause 2.2 shall operate to increase the Total Commitments in effect at that time.

Appears in 1 contract

Sources: Super Senior Revolving Credit Facilities Agreement (Atento S.A.)

Increase. (a) The Company may by by, giving not less than 60 days' prior notice to the Agent Agent, request that the Term Facility Commitments be increased (and the Term Facility Commitments shall be so increased) by no later than an amount which, when aggregated with the date falling 20 Business Days after amount of any previous increase of the effective date of a cancellation ofTerm Facility Commitments under this Clause 2.2, does not exceed US$40,000,000 as follows: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Term Facility Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms must have confirmed in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Term Facility Commitments which it is to assume, as if it had been an Original Lender;; 0081727-0000042 SN:12155633.21 50 (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Term Facility Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Term Facility Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An Subject to paragraph (d) below, an increase in the Total Term Facility Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) to the extent applicable, the Agent receiving from the Company a copy of the application to, and approval of, the Financial Surveillance Department of the South African Reserve Bank in connection with the transactions contemplated under this Clause 2.2 in form and substance satisfactory to the Agent (acting reasonably); and (iii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender upon the conditions in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: paragraphs (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; and (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”above being satisfied.

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)

Increase. (a) The Company Vodafone may by giving prior notice to the Agent by no later than the date falling 20 60 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (d) of Clause 9.5 8.5 (Right of cancellation in relation to a Defaulting Lenderprepayment and cancellation); or (ii) the Commitments of a Lender in accordance with Clause 9.1 14.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) increased in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an “Increase Lender") selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Vodafone and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company Vodafone in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Vodafone and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Vodafone shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 US$3,000 and the Company Vodafone shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.22.3. (e) The Company Vodafone may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Vodafone and the Increase Lender in a letter between Vodafone and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph (e). (f) Clause 27.4 27.2(f) to (Limitation of responsibility of Existing j) inclusive (Transfers by Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (Vodafone Group Public LTD Co)

Increase. (a) The Company Vodafone may by giving prior notice to the Agent by no later than the date falling 20 60 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (c) of Clause 9.5 8.5 (Right of cancellation in relation to a Defaulting Lenderprepayment and cancellation); or (ii) the Commitments of a Lender in accordance with Clause 9.1 14.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) increased in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Vodafone and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Vodafone in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Vodafone and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Vodafone shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 €2,500 and the Company Vodafone shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.22.3. (e) The Company Vodafone may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Vodafone and the Increase Lender in a letter between Vodafone and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph (e). (f) Clause 27.4 27.2(f) to (Limitation of responsibility of Existing j) inclusive (Transfers by Lenders) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (Vodafone Group Public LTD Co)

Increase. (a) The Company may Borrower may, by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 9.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 (Illegality); or (B) Clause 9.5 (Right of cancellation and repayment in relation to a single Lender or Issuing Bank), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate Base Currency Amount amount in Hong Kong dollars of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for Agent being satisfied that it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower, the Increase Lender and the Increase LenderIssuing Bank upon being so satisfied; and (B) in the case of an increase in the Total Revolving Facility Commitments, the Issuing Bank consenting to that increase. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Borrower shall, promptly on the date upon which the increase takes effectdemand, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.22.4. (e) The Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 25.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 25.5 (Procedure for transfer) and if the Increase Lender was a New Lender. (f) The Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a letter between the Borrower and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (fg) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.4 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Loan Agreement (Melco Crown Entertainment LTD)

Increase. (a) 2.2.1 The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (ia) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender)clause 7.5.6; or (iib) the Commitments of a Lender in accordance with Clause 9.1 clause 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments Commitment so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an Increase Lender) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below clause 2.2.2 are satisfied. (b) 2.2.2 An increase in the Total Commitments will only be effective on: (ia) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (iib) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Borrower and the Increase Lender. (c) 2.2.3 Each of the other Finance Parties hereby appoint the Agent as its agent to execute on its behalf any Increase Confirmation delivered to the Agent in accordance with this clause 2.2. 2.2.4 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) 2.2.5 Unless the Agent otherwise agrees or the increased Commitment is Commitments are assumed by an existing Lender, the Company Borrower shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 $3,500 and the Company Borrower shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause clause 2.2. (e) 2.2.6 The Company Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a letter between the Borrower and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this clause 2.2.6. (f) 2.2.7 Clause 27.4 32.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 clause 2.2.7 in relation to an Increase Lender as if references in that Clause clause to: (ia) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (iib) the New Lender” Lender were references to that Increase Lender; and (iiic) a re-transfer” and “re-assignment” assignment were references to respectively a “transfer” and “an assignment.

Appears in 1 contract

Sources: Facility Agreement (Navigator Holdings Ltd.)

Increase. (a) 26.11.1 The Company Parent may by giving prior written notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (iA) the Available Commitments of a Defaulting Lender Bank in accordance with Clause 9.5 7.7 (Right of cancellation in relation to a Defaulting LenderBank); or (iiB) the Commitments of a Lender Bank in accordance with Clause 9.1 13.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount in US Dollars of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii1) the increased Total Commitments will be assumed by one or more Lenders Banks or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an "Increase Lender”Bank") selected by the Company Parent (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably) )), and each of which confirms its willingness to assume and does assume all the obligations of a Lender Bank corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderBank; (iv2) each of the Obligors Obligor and any Increase Lender Bank shall assume obligations towards one another and/or acquire rights against one another as the Obligors that Obligor and the Increase Lender Bank would have assumed and/or acquired had the Increase Lender Bank been an Original LenderBank; (v3) each Increase Lender Bank shall become a Party as a “Lender” "Bank" and any Increase Lender Bank and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender Bank and those Finance Parties would have assumed and/or acquired had the Increase Lender Bank been an Original Lender;Bank; and (vi4) the Commitments of the other Lenders Banks shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) 26.11.2 An increase in the Total Commitments will only be effective on: (iA) the execution by the Agent of an Increase Confirmation from the relevant Increase LenderBank; (iiB) in relation to an Increase Lender Bank which is not a Lender Bank immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase LenderBank, the completion of which the Agent shall promptly notify to the Company Parent and the Increase LenderBank; and (C) any increase in the Total Commitments shall take effect on the date specified by the Parent in the notice referred to in Clause 26.11.1 above or any later date on which the conditions set out in this Clause 26.11.2 are satisfied. (c) 26.11.3 Each Increase LenderBank, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender relevant Bank or Lenders Banks in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) 26.11.4 Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing LenderExisting Bank, the Company Obligors shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 2,000 and the Company Obligors shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. 26.11. 26.11.5 Clauses 26.2.4 to 26.2.6 (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) both inclusive), shall apply mutatis mutandis in this Clause 2.2 26.11 in relation to an Increase Lender Bank as if references in that Clause to: (iA) an "Existing Lender” Bank" were references to all the Lenders Banks immediately prior to the relevant increase; (iiB) the "New Lender” Bank" were references to that "Increase Lender”Bank"; and (iiiC) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment".

Appears in 1 contract

Sources: Term Loan Agreement (British American Tobacco p.l.c.)

Increase. (a) 2.2.1 The Company Borrower may by giving prior written notice to the Facility Agent by no later than the date falling 20 ten Business Days after the effective date of a cancellation of: (iA) the Available Commitments of a Defaulting Lender under each Tranche in accordance with Clause 9.5 9.8 (Right of cancellation in relation to a Defaulting Lender); or (iiB) the Commitments of a Lender under each Tranche in accordance with Clause 9.1 (Illegality), request that the Total Aggregate Commitments under each Tranche be increased (and the Total Aggregate Commitments under each Tranche shall be so increased) in an aggregate Base Currency Amount amount in dollars of up to the amount of the Available Commitments or Commitments under each Tranche so cancelled or reduced under Clause 9.8 (Right of cancellation in relation to a Defaulting Lender) or ‎9.1 (Illegality) (as the case may be) as follows: (iii1) subject to Clause 2.2.7, the increased Commitments for each Tranche will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an "Increase Lender") selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group) Group or an Affiliate of any member of the Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments for each Tranche which it is to assume, as if it had been an Original Lender;; Index (iv2) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v3) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi4) the Commitments under each Tranche of the other Lenders shall continue in full force and effect; and (vii5) any increase in the Total Aggregate Commitments under each Tranche shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below Clause 2.2.2 are satisfied. (b) 2.2.2 An increase in the Total Aggregate Commitments will only be effective on: (iA) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender; (iiB) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Facility Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments under each Tranche by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company Borrower, the Increase Lender and the Increase LenderFronting Bank; and (C) in relation to an increase to the Commitments under Tranche C only, the Fronting Bank consenting to that increase. (c) 2.2.3 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) 2.2.4 Unless the Facility Agent otherwise agrees or the increased Commitment under each Tranche is assumed by an existing Lender, the Company Borrower shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee of £1,500 $2,500 and the Company Borrower shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent each Administrative Finance Party the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them that Administrative Finance Party and, in the case of the Security AgentTrustee, by any Receiver Insolvency Officer or Delegate in connection with any increase in Commitments under each Tranche, under this Clause 2.2.2.2 (Increase). Index (e) The Company 2.2.5 Subject to the terms of this Agreement, the Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a Fee Letterfee letter. (f) 2.2.6 Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 (Increase) in relation to an Increase Lender as if references in that Clause to: (iA) an "Existing Lender" were references to all the Lenders immediately prior to the relevant increase; (iiB) the "New Lender" were references to that "Increase Lender"; and (iiiC) a "re-transfer" and "re-assignment" were references to respectively a "transfer" and "assignment". 2.2.7 No Increase Lender may assume any increased Commitments under a Tranche (the "relevant Tranche") pursuant to the preceding provisions of this Clause 2.2 (Increase) without also assuming increased Commitments under the other Tranches in the same proportion borne by the increased Commitments so assumed under the relevant Tranche to the Aggregate Commitments under that Tranche (before taking into account such increased Commitments).

Appears in 1 contract

Sources: Senior Secured Multicurrency Credit Facility Agreement (Carrizo Oil & Gas Inc)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender Noteholder in accordance with Clause 9.5 ‎‎9.6 (Right of cancellation in relation to a Defaulting LenderNoteholder); or (ii) the Commitments of a Lender Noteholder in accordance with with: (A) Clause 9.1 ‎‎9.1 (Illegality); or (B) paragraph ‎(a) of Clause ‎‎9.4 (Right of cancellation and redemption in relation to a single Noteholder), request that the Total Commitments relating to any Series be increased (and the Total Commitments relating to that Series shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments relating to that Series so cancelled as follows: (iii1) the increased Commitments will be assumed by one or more Lenders Noteholders or other banks, financial institutions, trusts, funds or other entities persons (each an “Increase LenderNoteholder”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender Noteholder corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderNoteholder in respect of those Commitments; (iv2) each of the Obligors and any Increase Lender Noteholder shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender Noteholder would have assumed and/or acquired had the Increase Lender Noteholder been an Original LenderNoteholder in respect of that part of the increased Commitments which it is to assume; (v3) each Increase Lender shall Noteholder shall, if it is not already a Noteholder, become a Party as a “LenderNoteholder” and any Increase Lender Noteholder and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender Noteholder and those Finance Parties would have assumed and/or acquired had the Increase Lender Noteholder been an Original LenderNoteholder in respect of that part of the increased Commitments which it is to assume; (vi4) the Commitments of the other Lenders Noteholders shall continue in full force and effect; and (vii5) any increase in the Total Commitments relating to a Series shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b‎(b) below are satisfied. (b) An increase in the Total Commitments relating to a Series will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;Noteholder; and (ii) in relation to an Increase Lender Noteholder which is not a Lender Noteholder immediately prior to the relevant increase: (A) the Increase Lender Noteholder entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of being satisfied (acting reasonably) that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Noteholder. The Agent shall promptly notify to the Company and the Increase LenderNoteholder upon being so satisfied. (c) Each Increase LenderNoteholder, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender Noteholder or Lenders Noteholders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Increase Noteholder shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause ‎27.8 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause ‎‎27.10 (Procedure for transfer) and if the Increase Noteholder was a New Noteholder. (e) The Company may pay (or may procure that another Obligor pays) to the Increase Noteholder a fee in the amount and at the times agreed between the Company and the Increase Noteholder in a Fee Letter. (f) The Company shall within three (3) Business Days of promptly on demand pay (or procure that another Obligor pays) the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably properly incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2‎2.3. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (fg) Clause 27.4 ‎‎27.9 (Limitation of responsibility of Existing LendersNoteholders) shall apply mutatis mutandis in this Clause 2.2 ‎2.3 in relation to an Increase Lender Noteholder as if references in that Clause to: (i) an “Existing LenderNoteholder” were references to all the Lenders Noteholders immediately prior to the relevant increase; (ii) the “New LenderNoteholder” were references to that “Increase LenderNoteholder”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Senior Notes Purchase Agreement (Inspired Entertainment, Inc.)

Increase. (a) 2.2.1 The Company may Borrower Security Group Agent may, by giving prior notice to the Initial ACF Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 10.6 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with with: (a) Clause 9.1 10.1 (Illegality); or (b) Clause 10.5 (Right of cancellation and repayment in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiI) the increased Commitments will be assumed by one or more Lenders or other banksEligible Institutions (each, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower Security Group Agent (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Borrower Security Group and which is further acceptable to the Initial ACF Agent (acting reasonably)) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderInitial ACF Lender in respect of those Commitments; (ivII) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderInitial ACF Lender in respect of that part of the increased Commitments which it is to assume; (vIII) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Initial ACF Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderInitial ACF Lender in respect of that part of the increased Commitments which it is to assume; (viIV) the Commitments of the other Lenders shall continue in full force and effect; and (viiV) any increase in the Total Commitments shall shall, subject to the condition set out in Clause 2.2.4 below, take effect on the date specified by the Company Borrower Security Group Agent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Initial ACF Agent of executes an otherwise duly completed Increase Confirmation from delivered to it by the relevant Increase Lender;. (ii) 2.2.2 The Initial ACF Agent shall, subject to Clause 2.2.3 below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in relation accordance with the terms of this Agreement, execute that Increase Confirmation. 2.2.3 The Initial ACF Agent shall only be obliged to execute an Increase Confirmation delivered to it by an Increase Lender which once it is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for satisfied it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, .. 2.2.4 An increase in the completion of which Commitments relating to a Facility will only be effective if the Agent shall promptly notify Increase Lender enters into the documentation required for it to accede as a party to the Company and the Increase LenderBorrower STID. (c) 2.2.5 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Initial ACF Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company 2.2.6 The Increase Lender shall, on within 10 Business Days from the date upon which the increase takes effect, pay to the Initial ACF Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 21.3 (Assignment or transfer fee) if the increase were a transfer pursuant to Clause 21.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender were a New Lender. (e) 2.2.7 The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) 2.2.8 Neither the Initial ACF Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Initial ACF Finance Documents. 2.2.9 Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that Increase Lender; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and an assignment.

Appears in 1 contract

Sources: Amendment and Restatement Deed

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 five (5) Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) Borrower and each of which confirms in writing its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors Borrower and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Borrower and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company Borrower and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless The Borrower shall promptly on demand pay the Agent otherwise agrees or the increased Commitment is assumed amount of all costs and expenses (including legal fees) reasonably incurred by an existing Lender, the Company it in connection with any increase in Commitments under this Clause 2.2. (e) The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 22 (Changes to the Lenders) if the increase was a transfer pursuant to Clause 22 (Changes to the Lenders) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (ef) The Company Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a Fee LetterLender. (fg) Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (h) Clause 27.4 22 (Limitation of responsibility of Existing Changes to the Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Bridge Facility Agreement (Himalaya Shipping Ltd.)

Increase. (a) The At any time prior to the date of the first Request, the Company may may, by giving 5 Business Days’ prior notice to the Facility Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and and, subject to the remaining paragraphs of this Subclause 2.2, the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount, when aggregated with all other amounts of the Total Commitments increased pursuant to this Subclause 2.2, of up to the amount of the Available Commitments or Commitments so cancelled HK$1,560,000,000 as follows: (iiii) the increased Commitments will be assumed by one or more Lenders banks or other banks, financial institutions, institutions or trusts, funds or other entities which are regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (ivii) each of the Obligors Company and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors Company and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred shall, subject to above or any later date on which the conditions set out in paragraph paragraphs (bc) below are satisfiedand (d) below, take effect on the later of the date specified in the relevant Increase Confirmation and the date on which the Facility Agent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Facility Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation and, as soon as reasonably practicable after it has executed that Increase Confirmation, send a copy of that Increase Confirmation to the Company and inform all Lenders of such execution. (c) The Facility Agent shall only be effective onobliged to execute an Increase Confirmation delivered to it by an Increase Lender if: (i) the execution by aggregate amount of the Agent increased Commitments set out in the Increase Confirmation, when aggregated with all other amount of an Increase Confirmation from the relevant Increase LenderTotal Commitments increased pursuant to this Subclause 2.2, does not exceed HK$1,560,000,000; (ii) no Default or Event of Default has occurred and is continuing or would result from the increase in relation to an the Commitments in accordance with that Increase Lender which is not a Lender immediately prior to the relevant increase:Confirmation; (Aiii) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreementall Repeating Representations are correct in all material respects; and (Biv) the performance by the Facility Agent of has completed all necessary “know your customer” or other similar checks under all applicable laws and regulations customer due diligence requirements to its satisfaction (acting reasonably) in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (de) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the The Company shall within three (3) Business Days 15 days of demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause Subclause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 Neither the Facility Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Finance Party be required to pay or surrender any of the fees received by such Finance Party pursuant to the Finance Documents. (g) Subclause 26.7 (Limitation of responsibility of Existing LendersLender) shall apply mutatis mutandis in this Clause Subclause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase;; and (ii) the New Lender” Lender were references to that Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (MGM Resorts International)

Increase. (a) 2.2.1 The Company may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) 2.2.1.1 the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.8.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) 2.2.1.2 the Commitments of a Lender in accordance with Clause 9.1 8.1 (Illegality), request that the Total Commitments relating to any Facility be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) 2.2.1.3 the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) 2.2.1.4 each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) 2.2.1.5 each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) 2.2.1.6 the Commitments of the other Lenders shall continue in full force and effect; and (vii) 2.2.1.7 any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below Clause 2.2.2 are satisfied. (b) 2.2.2 An increase in the Total Commitments relating to a Facility will only be effective on: (i) 2.2.2.1 the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) 2.2.2.2 in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) 2.2.3 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless 2.2.4 The Company shall, promptly on demand, pay the Agent otherwise agrees or the increased Commitment is assumed amount of all properly documented third party costs and expenses (including legal fees pre-agreed by an existing Lender, the Company Company) reasonably incurred by it in connection with any increase in Commitments under this Clause 2.2. 2.2.5 The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 27.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 27.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) 2.2.6 The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis letter between the Company and the Increase Lender setting out that fee. A reference in this Clause 2.2 Agreement to a Fee Letter shall include any letter referred to in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”this clause.

Appears in 1 contract

Sources: Term Loan and Multicurrency Revolving Facilities Agreement (AVG Technologies N.V.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 clause 10.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 clause 10.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (bclause 2.2(b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor AgreementDeed; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the The Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal feesfees subject to any cap agreed in advance between the Company and the Agent) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2incurred. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 28.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause clause 2.2 in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Senior Facilities Agreement (Luxfer Holdings PLC)

Increase. (a) The Company Parent may by giving prior notice to the Agent by no later than the date falling 20 ten Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 11.7 (Right of cancellation in relation to a Defaulting Lender or a Sanctioned Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 11.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the relevant Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company Parent (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender, provided that nothing in this Clause 2.2 obliges any Lender to become an Increase Lender; (vC) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on:on:‌ (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Parent, the Increase Lender and the Increase LenderIssuing Bank (if any); and (iii) in the case of an increase in the Total Revolving Facility Commitments, the Issuing Bank under the relevant Revolving Facility (if any) consenting to that increase. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Existing Lender or an Affiliate of an Existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 $3,500 and the Company Parent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a Fee Letter.Letter.‌ (f) Clause 27.4 29.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Senior Term and Revolving Facilities Agreement

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 clause 10.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 clause 10.1 (Illegality), request that the Total Commitments under the relevant Facilities be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an Increase Lender) selected by the Company (each of which shall not be an Investor a Sponsor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (bclause 2.2(b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the The Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal feesfees subject to any cap agreed in advance between the Company and the Agent) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2incurred. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 28.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause clause 2.2 in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Senior Facilities Agreement (Luxfer Holdings PLC)

Increase. (a) The Company may by giving prior notice to the Facilities Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment and/or the Available Swingline Commitment of a Defaulting Lender (or its Affiliate) in accordance with Clause 9.5 12.6(g) (Right Involuntary prepayment and cancellation and replacement of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender (or its Affiliate) in accordance with Clause 9.1 12.1 (IllegalityMandatory prepayment - illegality), request that the Total Commitments or the relevant Swingline Commitments be increased (and the Total Commitments under that Facility or the relevant Swingline Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments Available Swingline Commitment so cancelled as follows: (iii) the increased Commitments and/or relevant Swingline Commitments will be assumed by one or more Lenders or other banksbanks or financial institutions which, financial institutionsin respect of an assumption of a Tranche A Commitment, trusts, funds or other entities meets the Rating Requirements at the time of such assumption (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Carnival Corporation & plc Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Defaulting Lender corresponding to that part of the increased Commitments and/or relevant Swingline Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and (where appropriate) “Swingline Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments and Swingline Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments and/or the relevant Swingline Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments and/or the relevant Swingline Commitments will only be effective on: (i) the execution by the Facilities Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Facilities Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments and/or the relevant Swingline Commitments by that Increase Lender, the completion of which the Facilities Agent shall promptly notify to the Company Company, the Increase Lender and the Fronting Banks. (c) No Swingline Commitment of a Lender may exceed the Commitment of that Lender or its Affiliate pursuant to the operation of this Clause 2.2. Accordingly where the Swingline Commitments are to be increased pursuant to this Clause to replace Swingline Commitments of a Swingline Lender that have been cancelled pursuant to Clause 12.6(g) (Involuntary prepayment and cancellation and replacement of Lender) or Clause 12.1 (Mandatory prepayment - illegality) without a commensurate cancellation of the Commitments of that Swingline Lender’s Affiliate being required at the time of such cancellation, that Affiliate shall (to the extent of its Commitments at the time of the increase in Swingline Commitments) be required to transfer its Commitments to the relevant Increase Lender (or its Affiliate) on the terms provided for in Clause 39.4 (Replacement of a Defaulting Lender) to the extent necessary to ensure that the Commitments of the Increase Lender (or its Affiliate) are at least equal to each of the Swingline Commitments assumed by that Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facilities Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (de) Unless the Facilities Agent otherwise agrees or the increased Commitment and/or Swingline Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Facilities Agent (for its own account) a fee of £1,500 USD3,500 and the Company shall within three (3) Business Days of promptly on demand pay to the Agent and the Security Facilities Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.2. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (fg) Clause 27.4 28.3 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” transfer and re-assignment” assignment were references to respectively a “transfer” transfer and assignment.

Appears in 1 contract

Sources: Facilities Agreement (Carnival PLC)

Increase. (a) The Company Borrower may by giving prior notice to the Facility Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments Commitment of a Defaulting Lender in accordance with Clause 9.5 7.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments Commitment of a Lender in accordance with with: (A) Clause 9.1 7.1 (Illegality); or (B) paragraph (a) of Clause 7.4 (Right of cancellation and repayment in relation to a single Lender), (such Available Commitment or Commitment so cancelled being the “Cancelled Commitment”) request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount in USD of up to the amount of the Available Commitments or Commitments so cancelled such Cancelled Commitment as follows: (iii) the such increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Borrower (each of which shall not be an Investor Affiliate a Sponsor Affiliate, a Transaction Obligor, a Holdco Group Member or a member of the Group) and which is further acceptable to the Agent (acting reasonablyGroup Member) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the such increased Commitments which it is to assumeassume (the “Assumed Commitment” of such Increase Lender), as if it had been an Original LenderLender (for the avoidance of doubt, the aggregate Assumed Commitments of all of the Increase Lenders shall not exceed such Cancelled Commitment); (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors that Obligor and the that Increase Lender would have assumed and/or acquired had the that Increase Lender been an Original LenderLender (with such Assumed Commitment so assumed by it, in addition to any other Commitment which that Increase Lender may otherwise have in accordance with this Agreement); (v) each Increase Lender which is not already party hereto as a Lender shall become a Party as a “Lender” (with such Assumed Commitment so assumed by it, in addition to any other Commitment which that Increase Lender may otherwise have in accordance with this Agreement), and any Increase Lender and each of the other Finance Parties and the Hedge Counterparties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties and Hedge Counterparties would have assumed and/or acquired had the that Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any such increase in the Total Commitments shall take effect on the later of (A) the date specified by the Company Borrower in the notice referred to above or any later and (B) the date on which the conditions set out in paragraph (b) below are satisfiedsatisfied in respect of such increase. In the case of cancellation of the Available Commitment of a Defaulting Lender referred to in paragraph (i), the Commitment of such Defaulting Lender shall be permanently cancelled and reduced by the aggregate Assumed Commitment of each such Increase Lender upon the effectiveness of such increase in the Commitments. (b) An increase in the Total Commitments pursuant to paragraph (a) will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from each Increase Lender in respect of such increase (setting out the relevant Assumed Commitment which such Increase LenderLender is assuming in accordance with paragraph (a)) provided that the requirements set out in paragraph (ii)(B) below have been satisfied in the case of an Increase Lender which is not a Lender immediately prior to such increase; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant such increase: (A) the that Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement as a “Senior Lender” (as defined in the Intercreditor Agreement); and (B) the performance by the Facility Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations and internal policies in relation to the assumption of the increased Commitments such Assumed Commitment by that Increase Lender, the completion of which the . The Facility Agent shall promptly notify to the Company Borrower and the that Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the an Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement any Finance Document on or prior to the date on which the increase in Commitments (to which such Increase Confirmation relates) becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, The Borrower shall promptly on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of written demand pay the Facility Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees, subject to any agreed cap) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) An Increase Lender shall (or the Borrower shall on its behalf), on the date upon which such increase takes effect, pay to the Facility Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause 25.3 (Assignment or transfer fee) if such increase was a transfer to such Increase Lender pursuant to Clause 25.5 (Procedure for transfer) and if such Increase Lender was a New Lender. (f) The Company Borrower may pay to the an Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the such Increase Lender in a Fee Letter. (fg) Clause 27.4 25.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all each of the Lenders immediately prior to the relevant increaseincrease in Commitments or the assumption of any Assumed Commitment by that Increase Lender; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (WuXi PharmaTech (Cayman) Inc.)

Increase. Provided that no Default or Event of Default exists or -------- would exist immediately before and after giving effect thereto, the Borrower may at any time and from time to time, at its sole cost and expense, request any one or more of the Banks to increase (asuch decision to increase the Revolving Credit Commitment of a Bank to be within the sole and absolute discretion of such Bank) The Company may by giving prior notice its Revolving Credit Commitment, or any other institution reasonably satisfactory to the Agent and the Swing Line Lender to provide a new Revolving Credit Commitment, by no later than submitting an Increase Supplement in the date falling 20 Business Days after form of Exhibit C to the effective date Third Amendment (an "Increase Supplement"), duly executed by the Borrower and each such Bank ------------------- or other institution, as the case may be. If such Increase Supplement is in all respects reasonably satisfactory to the Agent, the Agent shall execute such Increase Supplement and deliver a copy thereof to the Borrower and each such Bank or other institution, as the case may be. Upon execution and delivery of such Increase Supplement, (i) in the case of each such Bank, such Bank's Revolving Credit Commitment shall be increased to the amount set forth in such Increase Supplement, (ii) in the case of each such other institution, such other institution shall become a cancellation ofparty hereto and shall for all purposes of the Loan Documents be deemed a "Bank" with a Revolving Credit Commitment in the amount set forth in such Increase Supplement, (iii) in each case, the Revolving Credit Commitment of such Bank or such other institution, as the case may be, shall be as set forth in the applicable Increase Supplement, and (iv) the Borrower shall contemporaneously therewith execute and deliver to the Agent (x) for each Bank providing an increased Revolving Credit Commitment, a new Revolving Credit Note in the amount of such increased Revolving Credit Commitment and (y) for each such other institution providing a new Revolving Credit Conunitment, a Revolving Credit Note in the amount of its Revolving Credit Commitment; provided, however, that: (i) immediately after giving effect thereto, the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 Aggregate Revolving Credit Commitment shall not have been increased pursuant to this Section by an aggregate amount greater than $30,000,000 (Right of cancellation in relation to a Defaulting Lendertaking into account any prior increases); or; (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments each such increase shall be so increased) in an aggregate Base Currency Amount amount not less than $5,000,000 or an integral multiple of up to the amount of the Available Commitments or Commitments so cancelled as follows:$1,000,000 in excess thereof, (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which Aggregate Commitment Amount shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lenderon more than six occasions; (iv) if Revolving Credit Loans shall be outstanding immediately after giving effect to such increase, each such Bank and each such other institution shall enter into a master assignment and acceptance agreement with the other Banks in all respects reasonably satisfactory to such other Banks, pursuant to which each such other Bank shall assign to it a portion of its Revolving Credit Loans necessary to reflect proportionately the Obligors Revolving Credit Commitments as adjusted in accordance with this subsection (b), and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another in connection with such master assignment and acceptance agreement each such other Bank may treat the assignment of LIBO Rate Loans as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lendera prepayment of such LIDO Rate Loans for purposes of Section 2.11 (a) hereof; (v) each Increase Lender such other institution shall become a Party as a “Lender” have delivered to the Agent and any Increase Lender and each of the Borrowers all forms, if any, that are required to be delivered by such other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lenderinstitution pursuant to Section 3.3 hereof; (vi) within five Business Days after the Agent executes and delivers each Increase Supplement in accordance with the terms hereof, the Agent shall revise Exhibit A hereto to reflect the adjustments to the --------- Revolving Credit Commitments of contemplated by clause (iv) above and shall promptly send a copy thereof to the other Lenders shall continue in full force and effectBanks; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company have received such certificates, legal opinions and the Increase Lenderother items as it shall reasonably request in connection with such increase." (c) Each Increase LenderSection 2.10(b) is hereby amended to restate the second parenthetical thereof to read in its entirety as follows: "(April 30, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, 2001 in the case of the Security Agenthlitial Term)." (d) Section 2.11 (a) is hereby amended to restate the first parenthetical phrase thereof to read in its entirety as follows: "(including, by any Receiver without limitation, as a consequence of acceleration pursuant to Article IX hereof, a termination, reduction or Delegate in connection with any increase in Commitments under this Clause 2.2of the Aggregate Revolving Credit Commitment pursuant to Section 2.4 hereof, a voluntary or mandatory prepayment pursuant to Section 2.5 hereof, or a mandatory conversion pursuant to Section 2.13 hereof)." (e) The Company may pay Section 6.1(c) is hereby restated to the Increase Lender a fee read in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender its entirety as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.follows: "

Appears in 1 contract

Sources: Loan Agreement (Medallion Financial Corp)

Increase. (ai) The Company Borrower may at any time, by giving prior notice to the Administrative Agent not less than three Business Days prior to a Commitment Increase Date (as defined below), propose that the aggregate amount of the Commitments be increased (each such proposed increase being a “Commitment Increase”), through an increase of the Commitment or Commitments of one or more existing Lenders and/or the addition of one or more Persons (who shall be Eligible Assignees) as Assuming Lenders, as the Borrower may determine, all effective as of a date (the “Commitment Increase Date”) that shall be specified in such notice and that shall be prior to the Commitment Termination Date; provided that (A) the proposed Commitment Increase in respect of the Commitment of either (1) any Increasing Lender or (2) any Assuming Lender shall for each Commitment Increase Date be in the aggregate amount of no less than $25,000,000 and an integral multiple of $1,000,000 in excess thereof, #96301122v26 (B) in no event shall the aggregate amount of the Commitments at any time exceed $1,500,000,000, (C) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase, and (D) the representations and warranties contained in Article 4 shall be accurate in all material respects on and as of the Commitment Increase Date as if made on and as of such date (except to the extent any such representation or warranty (1) relates solely to an earlier date, in which case it shall be accurate as of such earlier date, or (2) is qualified by no materiality or subject to a Material Adverse Effect qualification, in which case it shall be accurate in all respects on and as of the Commitment Increase Date or such earlier date as specified in clause (1) above). The Borrower shall prepay any Revolving Loans (which prepayment may, notwithstanding any pro rata borrowing requirements set forth in this Agreement, be effected through a Borrowing funded by the Lenders participating in the Commitment Increase) outstanding on the Commitment Increase Date (and pay any additional amounts required pursuant to Section 2.16) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section 2.07. The Administrative Agent shall notify the Lenders of a proposed Commitment Increase promptly upon its receipt of any notice from the Borrower with respect to such proposed Commitment Increase. It shall be in each Lender’s sole discretion whether to agree to increase its Commitment hereunder in connection with any proposed Commitment Increase. No later than the date falling 20 three Business Days after its receipt of the effective date Borrower’s notice proposing a Commitment Increase, each Lender that is willing to increase its Commitment hereunder (each such Lender being an “Increasing Lender”) shall deliver to the Administrative Agent a notice in which such Lender shall set forth the maximum increase in its Commitment to which such ▇▇▇▇▇▇ is willing to agree, and the Administrative Agent shall promptly provide to the Borrower a copy of such Increasing ▇▇▇▇▇▇’s notice. Any Lender failing to provide such notice shall be deemed to have declined to increase its Commitment. The Administrative Agent, or an Affiliate of the Administrative Agent, shall cooperate with the Borrower in discussions with the Lenders and Eligible Assignees with a cancellation of: view to arranging any proposed Commitment Increase through the increase of the Commitments of one or more of the Lenders and/or the addition of one or more Eligible Assignees as Assuming Lenders (provided that any such addition of an Eligible Assignee as an Assuming Lender shall be subject to the consent of the Administrative Agent, which consent shall not be unreasonably withheld or delayed) and as parties to this Agreement; provided, that any allocations of any increase of Commitments hereunder (including any allocation as between each Lender that is willing to increase its Commitment hereunder (each such Lender being an “Increasing Lender”) and Assuming Lenders) shall be determined by the Borrower in its sole discretion, subject to the limitations set forth in this clause (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting LenderSection 2.07(c); or. (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which If agreement is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately reached prior to the relevant increaseCommitment Increase Date with any Increasing Lenders and Assuming Lenders, if any, as to a Commitment Increase (the amount of which may be less than (subject to the limitation set forth in clause (i)(A) of this Section 2.07(c)) but not greater than that amount specified in the applicable notice from the Borrower), the Borrower #96301122v26 shall deliver, no later than one Business Day prior to such Commitment Increase Date, a notice thereof in reasonable detail to the Administrative Agent (and the Administrative Agent shall give notice thereof to the Lenders, including any Assuming Lenders). The Assuming Lenders, if any, shall become Lenders hereunder as of such Commitment Increase Date and the Commitments of any Increasing Lenders and such Assuming Lenders shall be increased by or shall be, as the case may be, as of such Commitment Increase Date, the amounts specified in the notice delivered by the Borrower to the Administrative Agent; provided that: (A) the Administrative Agent shall have received at or prior to 9:00 a.m. (New York City time) on such Commitment Increase Lender entering into the documentation required for it to accede as Date (1) a party duly executed Note (to the Intercreditor Agreementextent requested by the relevant Lender), dated as of such Commitment Increase Date and in substantially the form of Exhibit C hereto for each Assuming Lender, and dated the date to which interest on the existing Notes shall have been paid and in substantially the form of Exhibit C hereto for each Increasing Lender, in each case in an amount equal to the Commitment of each such Assuming Lender and each such Increasing Lender after giving effect to such Commitment Increase, (2) a certificate of a duly authorized officer of the Borrower stating that each of the applicable conditions to such Commitment Increase set forth in Section 2.07(c)(i)(C) and 2.07(c)(i)(D) has been satisfied and (3) to the extent reasonably requested by the Administrative Agent documents, consistent with those delivered under Sections 3.01(a)(ii), 3.01(a)(iii) and 3.01(a)(iv) as to the corporate power and authority of the Borrower to borrow hereunder after giving effect to such increase; (B) with respect to each Assuming Lender, the Administrative Agent shall have received, at or prior to 9:00 a.m. (New York City time) on such Commitment Increase Date, an Assumption Agreement in substantially the form of Exhibit B hereto, duly executed by such Assuming Lender and the Borrower and acknowledged by the Administrative Agent; and (BC) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation each Increasing Lender shall have delivered to the assumption of the increased Commitments by that Administrative Agent, at or prior to 9:00 a.m. (New York City time) on such Commitment Increase LenderDate, the completion of which the Agent shall promptly notify confirmation in writing satisfactory to the Company and Administrative Agent as to its increased Commitment, with a copy of such confirmation to the Increase LenderBorrower. (ciii) Each Increase LenderUpon its receipt of confirmation from a Lender that it is increasing its Commitment hereunder, together with the appropriate Note (if applicable) and documents referred to in clause (ii)(A) above, the Administrative Agent shall (A) record the information contained therein in the Register and (B) give prompt notice thereof to the Borrower. Upon its receipt of an Assumption Agreement executed by executing an Assuming Lender representing that it is an Eligible Assignee, together with the Increase Confirmationappropriate Note (if applicable) and documents referred to in clause (ii)(A) above, confirms the Administrative Agent shall, if such Assumption Agreement has been completed and is in substantially the form of Exhibit B hereto, (for x) accept such Assumption Agreement, (y) record the avoidance of doubtinformation contained therein in the Register and (z) give prompt notice thereof to the Borrower. #96301122v26 (iv) In the event that the Administrative Agent has authority shall not have received notice from the Borrower as to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance agreement with this Agreement respect to a Commitment Increase on or prior to the date relevant Commitment Increase Date or the Borrower shall, by notice to the Administrative Agent prior to such Commitment Increase Date, withdraw its proposal for a Commitment Increase or any of the actions provided for above in clauses (ii)(A) through (ii)(C) shall not have occurred by 9:00 a.m. (New York City time) on which such Commitment Increase Date, such proposal by the increase becomes effectiveBorrower shall be deemed not to have been made. In such event, any actions theretofore taken under clauses (ii)(A) through (ii)(C) above shall be deemed to be of no effect and all the rights and obligations of the parties shall continue as if no such proposal had been made. (dv) Unless In the event that the Administrative Agent otherwise agrees shall have received notice from the Borrower as to any agreement with respect to a Commitment Increase on or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; Commitment Increase Date and the action provided for in clauses (iiii)(A) through (ii)(C) above shall have occurred by 9:00 a.m. (New York City time) on such Commitment Increase Date, the Administrative Agent shall notify the Lenders (including any Assuming Lenders) of the occurrence of such Commitment Increase Date promptly and in any event by 10:00 a.m. (New York City time) on such date by facsimile transmission or electronic messaging system. Each Increasing Lender and each Assuming Lender shall, before 11:00 a.m. (New York City time) on such Commitment Increase Date, make available for the account of its Applicable Lending Office to the Administrative Agent at the Administrative Agent’s Account, in same day funds, an amount equal to such Increasing Lender” were references ’s or such Assuming Lender’s ratable portion of the Borrowings then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase). After the Administrative Agent’s receipt of such funds, the Administrative Agent will promptly thereafter cause to be distributed like funds to the Lenders for the account of their respective Applicable Lending Offices in an amount to each Lender such that the aggregate amount of the outstanding Revolving Loans owing to each Lender after giving effect to such distribution equals such Lender’s ratable portion of the Borrowings then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase). In addition, on and as of each Commitment Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references Date, the LC Exposures of the Lenders shall be redetermined based on their respective Commitments after giving effect to respectively a “transfer” and “assignment”the relevant Commitment Increase.

Appears in 1 contract

Sources: Revolving Credit Agreement (Zoetis Inc.)

Increase. PPG shall have the right from time to time to increase the aggregate Commitments hereunder by an aggregate amount not exceeding $300,000,000 by causing one or more Additional Commitment Lenders (awhich may include any existing Lender) The Company may by giving prior notice to provide a (or, in the case of an existing Lender, to increase its) Commitment (each such increase, an “Commitment Increase”), provided that (i) PPG shall first offer the existing Lenders the opportunity to provide such Commitment Increase before offering the same to any new Lender, (ii) no Lender shall have any obligation hereunder to become an Additional Commitment Lender and any election to do so shall be in the sole discretion of each Lender (and any Lender that does not advise PPG of its election to become an Additional Commitment Lender hereunder shall be deemed to have rejected such request) and (iii) each Commitment Increase shall be in an aggregate amount for all Additional Commitment Lenders of at least $10,000,000. Each such Additional Commitment Lender shall enter into an agreement in form and substance satisfactory to PPG and the Administrative Agent by no later than the date falling 20 Business Days after pursuant to which such Additional Commitment Lender shall, as of the effective date of such Commitment Increase (which shall be a cancellation ofBusiness Day and, unless the Administrative Agent otherwise agrees, a day on which no issuance, amendment, renewal or extension of any Letter of Credit is scheduled to occur), provide a Commitment (or, if any such Additional Commitment Lender is an existing Lender, increase its Commitment) in the amount specified therein and (if not an existing Lender) become a Lender hereunder. Notwithstanding the foregoing, no Commitment Increase pursuant to this Section shall be effective unless: (i) PPG shall have given the Available Commitments Administrative Agent notice of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up any such increase at least three Business Days prior to the amount relevant effective date of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lendersuch Commitment Increase; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws no Default shall have occurred and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute be continuing on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”such effective date; and (iii) each of the representations and warranties of each Borrower contained in this Agreement shall be true on and as of such effective date with the same force and effect 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 “re-transfer” specific date, as of such specific date). Each notice under clause (i) above shall be deemed to constitute a representation and “re-assignment” were references warranty by the Borrowers as to respectively a “transfer” the matters specified in clauses (ii) and “assignment”(iii) above. On the effective date of each Commitment Increase, PPG shall simultaneously (i) prepay in full the outstanding Revolving Credit Advances (if any) held by the Lenders immediately prior to giving effect to the relevant Commitment Increase (which prepayment may be made with the proceeds of new Revolving Credit Advances under the following clause (ii)), (ii) if PPG shall have so requested in accordance with this Agreement, borrow new Revolving Credit Advances from all Lenders (including, if applicable, any new Lenders) such that, after giving effect thereto, the Revolving Credit Advances are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such Commitment Increase) and (iii) pay to the Lenders the amounts, if any, payable under Section 2.11.

Appears in 1 contract

Sources: Credit Agreement (PPG Industries Inc)

Increase. (ai) The Company Borrower may at any time, by giving prior notice to the Administrative Agent not less than three Business Days prior to a Commitment Increase Date (as defined below), propose that the aggregate amount of the Commitments be increased (each such proposed increase being a “Commitment Increase”), through an increase of the Commitment or Commitments of one or more existing Lenders and/or the addition of one or more Persons (who shall be Eligible Assignees) as Assuming Lenders, as the Borrower may determine, all effective as of a date (the “Commitment Increase Date”) that shall be specified in such notice and that shall be prior to the Commitment Termination Date; provided that (A) the proposed Commitment Increase in respect of the Commitment of either (1) any Increasing Lender or (2) any Assuming Lender shall for each Commitment Increase Date be in the aggregate amount of no less than $25,000,000 and an integral multiple of $1,000,000 in excess thereof, (B) in no event shall the aggregate amount of the Commitments at any time exceed $1,500,000,000, (C) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase, and (D) the representations and warranties contained in Article 4 shall be accurate in all material respects on and as of the Commitment Increase Date as if made on and as of such date (except to the extent any such representation or warranty (1) relates solely to an earlier date, in which case it shall be accurate as of such earlier date, or (2) is qualified by no materiality or subject to a Material Adverse Effect qualification, in which case it shall be accurate in all respects on and as of the Commitment Increase Date or such earlier date as specified in clause (1) above). The Borrower shall prepay any Revolving Loans (which prepayment may, notwithstanding any pro rata borrowing requirements set forth in this Agreement, be effected through a Borrowing funded by the Lenders participating in the Commitment Increase) outstanding on the Commitment Increase Date (and pay any additional amounts required pursuant to Section 2.16) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section 2.07. The Administrative Agent shall notify the Lenders of a proposed Commitment Increase promptly upon its receipt of any notice from the Borrower with respect to such proposed Commitment Increase. It shall be in each Lender’s sole discretion whether to agree to increase its Commitment hereunder in connection with any proposed Commitment Increase. No later than the date falling 20 three Business Days after its receipt of the effective date Borrower’s notice proposing a Commitment Increase, each Lender that is willing to increase its Commitment hereunder (each such Lender being an “Increasing Lender”) shall deliver to the Administrative Agent a notice in which such Lender shall set forth the maximum increase in its Commitment to which such Lender is willing to agree, and the Administrative Agent shall promptly provide to the Borrower a copy of such Increasing Lender’s notice. Any Lender failing to provide such notice shall be deemed to have declined to increase its Commitment. The Administrative Agent, or an Affiliate of the Administrative Agent, shall cooperate with the Borrower in discussions with the Lenders and Eligible Assignees with a cancellation of: view to arranging any proposed Commitment Increase through the increase of the Commitments of one or more of the Lenders and/or the addition of one or more Eligible Assignees as Assuming Lenders (provided that any such addition of an Eligible Assignee as an Assuming Lender shall be subject to the consent of the Administrative Agent, which consent shall not be unreasonably withheld or delayed) and as parties to this Agreement; provided, that any allocations of any increase of Commitments hereunder (including any allocation as between each Lender that is willing to increase its Commitment hereunder (each such Lender being an “Increasing Lender”) and Assuming Lenders) shall be determined by the Borrower in its sole discretion, subject to the limitations set forth in this clause (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting LenderSection 2.07(c); or. (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which If agreement is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately reached prior to the relevant increaseCommitment Increase Date with any Increasing Lenders and Assuming Lenders, if any, as to a Commitment Increase (the amount of which may be less than (subject to the limitation set forth in clause (i)(A) of this Section 2.07(c)) but not greater than that amount specified in the applicable notice from the Borrower), the Borrower shall deliver, no later than one Business Day prior to such Commitment Increase Date, a notice thereof in reasonable detail to the Administrative Agent (and the Administrative Agent shall give notice thereof to the Lenders, including any Assuming Lenders). The Assuming Lenders, if any, shall become Lenders hereunder as of such Commitment Increase Date and the Commitments of any Increasing Lenders and such Assuming Lenders shall be increased by or shall be, as the case may be, as of such Commitment Increase Date, the amounts specified in the notice delivered by the Borrower to the Administrative Agent; provided that: (A) the Administrative Agent shall have received at or prior to 9:00 a.m. (New York City time) on such Commitment Increase Lender entering into the documentation required for it to accede as Date (1) a party duly executed Note (to the Intercreditor Agreementextent requested by the relevant Lender), dated as of such Commitment Increase Date and in substantially the form of Exhibit C hereto for each Assuming Lender, and dated the date to which interest on the existing Notes shall have been paid and in substantially the form of Exhibit C hereto for each Increasing Lender, in each case in an amount equal to the Commitment of each such Assuming Lender and each such Increasing Lender after giving effect to such Commitment Increase, (2) a certificate of a duly authorized officer of the Borrower stating that each of the applicable conditions to such Commitment Increase set forth in Section 2.07(c)(i)(C) and 2.07(c)(i)(D) has been satisfied and (3) to the extent reasonably requested by the Administrative Agent documents, consistent with those delivered under Sections 3.01(a)(ii), 3.01(a)(iii) and 3.01(a)(iv) as to the corporate power and authority of the Borrower to borrow hereunder after giving effect to such increase; (B) with respect to each Assuming Lender, the Administrative Agent shall have received, at or prior to 9:00 a.m. (New York City time) on such Commitment Increase Date, an Assumption Agreement in substantially the form of Exhibit B hereto, duly executed by such Assuming Lender and the Borrower and acknowledged by the Administrative Agent; and (BC) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation each Increasing Lender shall have delivered to the assumption of the increased Commitments by that Administrative Agent, at or prior to 9:00 a.m. (New York City time) on such Commitment Increase LenderDate, the completion of which the Agent shall promptly notify confirmation in writing satisfactory to the Company and Administrative Agent as to its increased Commitment, with a copy of such confirmation to the Increase LenderBorrower. (ciii) Each Increase LenderUpon its receipt of confirmation from a Lender that it is increasing its Commitment hereunder, together with the appropriate Note (if applicable) and documents referred to in clause (ii)(A) above, the Administrative Agent shall (A) record the information contained therein in the Register and (B) give prompt notice thereof to the Borrower. Upon its receipt of an Assumption Agreement executed by executing an Assuming Lender representing that it is an Eligible Assignee, together with the Increase Confirmationappropriate Note (if applicable) and documents referred to in clause (ii)(A) above, confirms the Administrative Agent shall, if such Assumption Agreement has been completed and is in substantially the form of Exhibit B hereto, (for x) accept such Assumption Agreement, (y) record the avoidance of doubtinformation contained therein in the Register and (z) give prompt notice thereof to the Borrower. (iv) In the event that the Administrative Agent has authority shall not have received notice from the Borrower as to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance agreement with this Agreement respect to a Commitment Increase on or prior to the date relevant Commitment Increase Date or the Borrower shall, by notice to the Administrative Agent prior to such Commitment Increase Date, withdraw its proposal for a Commitment Increase or any of the actions provided for above in clauses (ii)(A) through (ii)(C) shall not have occurred by 9:00 a.m. (New York City time) on which such Commitment Increase Date, such proposal by the increase becomes effectiveBorrower shall be deemed not to have been made. In such event, any actions theretofore taken under clauses (ii)(A) through (ii)(C) above shall be deemed to be of no effect and all the rights and obligations of the parties shall continue as if no such proposal had been made. (dv) Unless In the event that the Administrative Agent otherwise agrees shall have received notice from the Borrower as to any agreement with respect to a Commitment Increase on or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; Commitment Increase Date and the action provided for in clauses (iiii)(A) through (ii)(C) above shall have occurred by 9:00 a.m. (New York City time) on such Commitment Increase Date, the Administrative Agent shall notify the Lenders (including any Assuming Lenders) of the occurrence of such Commitment Increase Date promptly and in any event by 10:00 a.m. (New York City time) on such date by facsimile transmission or electronic messaging system. Each Increasing Lender and each Assuming Lender shall, before 11:00 a.m. (New York City time) on such Commitment Increase Date, make available for the account of its Applicable Lending Office to the Administrative Agent at the Administrative Agent’s Account, in same day funds, an amount equal to such Increasing Lender” were references ’s or such Assuming Lender’s ratable portion of the Revolving Borrowings then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase). After the Administrative Agent’s receipt of such funds, the Administrative Agent will promptly thereafter cause to be distributed like funds to the Lenders for the account of their respective Applicable Lending Offices in an amount to each Lender such that the aggregate amount of the outstanding Revolving Loans owing to each Lender after giving effect to such distribution equals such Lender’s ratable portion of the Revolving Borrowings then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments outstanding after giving effect to the relevant Commitment Increase). In addition, on and as of each Commitment Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references Date, the LC Exposures of the Lenders shall be redetermined based on their respective Commitments after giving effect to respectively a “transfer” and “assignment”the relevant Commitment Increase.

Appears in 1 contract

Sources: Revolving Credit Agreement (Zoetis Inc.)

Increase. (a) The Company may Borrower may, at any time by giving prior notice to the Administrative Agent, propose an increase in the total Commitments hereunder (each such proposed increase being a “Commitment Increase”) by first offering each Lender an opportunity to increase its Commitment then in effect and, if the Lenders do not agree to provide the full amount of the proposed Commitment Increase, either by having a Lender increase its Commitment then in effect, it being understood that any such increase shall be in such Lender’s sole discretion (each an “Increasing Lender”), or by adding as a Lender with a new Commitment hereunder a Person which is not then a Lender (each an “Assuming Lender”) in each case with the approval of the Administrative Agent (which shall not be unreasonably withheld), which notice shall specify the name of each Increasing Lender and/or Assuming Lender, as applicable, the amount of the Commitment Increase and the portion thereof being assumed by no later than each such Increasing Lender or Assuming Lender, and the date falling 20 on which such Commitment Increase is to be effective (the “Commitment Increase Date”) (which shall be a Business Day at least three Business Days after delivery of such notice and 30 days prior to the effective date of a cancellation ofCommitment Termination Date); provided that: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the minimum amount of the Available Commitments or Commitments so cancelled increase of the Commitment of any Increasing Lender, and the minimum amount of the Commitment of any Assuming Lender, as follows: (iii) the increased Commitments will part of any Commitment Increase shall be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate $10,000,000 or a member larger multiple of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender$1,000,000; (ii) in relation immediately after giving effect to an Increase Lender which is any Commitment Increase, the total Commitments hereunder shall not a Lender immediately prior to exceed $300,000,000; (iii) no Default shall have occurred and be continuing on the relevant increase: (A) the Commitment Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor AgreementDate or shall result from any Commitment Increase; and (Biv) the performance representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the relevant 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). Each Commitment Increase (and the increase of the Commitment of each Increasing Lender and/or the new Commitment of each Assuming Lender, as applicable, resulting therefrom) shall become effective as of the relevant Commitment Increase Date upon receipt by the Agent Administrative Agent, on or prior to 11:00 a.m., New York City time, on such Commitment Increase Date, of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption (A) a certificate of a duly authorized officer of the increased Commitments by Borrower stating that the conditions with respect to such Commitment Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. under this paragraph (c) Each have been satisfied and (B) an agreement, in form and substance reasonably satisfactory to the Borrower and the Administrative Agent, pursuant to which, effective as of such Commitment Increase Date, the Commitment of each such Increasing Lender shall be increased and/or each such Assuming Lender shall undertake a Commitment, duly executed by such Increasing Lender or Assuming Lender, as the case may be, and the Borrower and acknowledged by executing the Administrative Agent. Upon the Administrative Agent’s receipt of a fully executed agreement from each Increasing Lender and/or Assuming Lender referred to in clause (B) above, together with the certificate referred to in clause (A) above, the Administrative Agent shall record the information contained in each such agreement in the Register and give prompt notice of the relevant Commitment Increase Confirmationto the Borrower and the Lenders (including, confirms if applicable, each Assuming Lender). On each Commitment Increase Date, in the event Loans are then outstanding, (i) each relevant Increasing Lender and Assuming Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf benefit of the requisite Lender or other relevant Lenders, as being required in order to cause, after giving effect to such increase and the application of such amounts to make payments to such other relevant Lenders, the Loans to be held ratably by all Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lendertheir respective Commitments, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references Borrower shall be deemed to that “have prepaid and reborrowed all outstanding Loans as of such Commitment Increase Lender”; and Date (with such borrowing to consist of the Type of Loans, with related Interest Periods if applicable, specified in a notice delivered by the Borrower in accordance with the requirements of Section 2.03) and (iii) the Borrower shall pay to the Lenders the amounts, if any, payable under Section 2.13 as a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”result of such prepayment.

Appears in 1 contract

Sources: Credit Agreement (Bard C R Inc /Nj/)

Increase. (a) The Company may Guarantor may, by giving prior notice to the Agent at least 30 days in advance of the proposed date specified by no later the Guarantor in such notice to increase the size of the Facility (the “Increase Date”), request that the Stated Amounts available under the Facility be increased by an aggregate amount of not more than the date falling 20 Business Days after the effective date of a cancellation ofU.S.$25,000,000 as follows: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments Stated Amounts will be assumed by one or more Lenders Banks or other banks, financial institutions, trusts, funds or other entities which are regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (each an “Increase LenderBank”) selected by the Company Guarantor (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender); (ivii) each of the Obligors and any Increase Lender Bank shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender Bank would have assumed and/or acquired had the Increase Lender Bank been an Original LenderEffective Date Bank; (viii) each Increase Lender Bank shall become a Party as a “LenderBank” and any Increase Lender Bank and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender Bank and those Finance Parties would have assumed and/or acquired had the Increase Lender Bank been an Original LenderEffective Date Bank; (viiv) the Commitments Stated Amounts of the other Lenders Banks shall continue in full force and effect; and (viiv) any increase in the Total Commitments Stated Amounts shall take effect on the date specified by the Company Guarantor in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments Stated Amounts will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;Bank; and (ii) in relation to an Increase Lender Bank which is not a Lender Bank immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by , the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments Stated Amounts by that Increase Lender, the completion of which the Bank. The Agent shall promptly notify to the Company Guarantor and the Increase LenderBank upon being so satisfied. (c) The Agent will notify each Bank of the receipt of any notice from the Guarantor under paragraph (a) above, and will only execute an Increase Confirmation if it has received the consent of all of the Banks to the relevant increase in the Stated Amounts available under the Facility. (d) Each Increase LenderBank, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender Bank or Lenders Banks in accordance with this Agreement on or prior to the date on which the increase becomes effective. (de) Unless The Guarantor shall, promptly on demand, pay the Agent otherwise agrees or and the increased Commitment is assumed Security Agent the amount of all costs and expenses (including legal fees) reasonably incurred by an existing Lender, the Company either of them in connection with any increase in Stated Amounts under this Clause 2.3. (f) The Increase Bank shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 23.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 23.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Bank was a New Bank. (eg) The Company Guarantor may pay to the Increase Lender Bank a fee in the amount and at the times agreed between the Company Guarantor and the Increase Lender Bank in a letter between the Guarantor and the Increase Bank setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph. (fh) The Guarantor may make a request to increase the Stated Amounts available under the Facility under this Clause on one occasion only in each calendar year starting with the calendar year during which the date of this Agreement falls. (i) Clause 27.4 23.4 (Limitation of responsibility of Existing LendersBanks) shall apply mutatis mutandis in this Clause 2.2 2.3 in relation to an Increase Lender Bank as if references in that Clause to: (i) an “Existing LenderBank” were references to all the Lenders Banks immediately prior to the relevant increase; (ii) the “New LenderBank” were references to that “Increase LenderBank”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (Platinum Underwriters Holdings LTD)

Increase. (a) The Company Borrower may at any time, upon prior written notice by giving prior notice the Borrower to the Agent Administrative Agent, make a request for an increase in the Aggregate Revolving Commitments (but not the Letter of Credit Sublimit) of up to TWENTY-FIVE MILLION DOLLARS ($25,000,000) with additional Commitments from any existing Lender or new Commitments from any other Person selected by no later than the date falling 20 Business Days after Borrower and approved by the effective date of a cancellation ofAdministrative Agent; provided that: (i) the Available Commitments any such increase shall be in a minimum principal amount of a Defaulting Lender $5,000,000 and in accordance with Clause 9.5 (Right integral multiples of cancellation $1,000,000 in relation to a Defaulting Lender); orexcess thereof; (ii) no Default or Event of Default shall exist and be continuing at the Commitments time of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows:any such increase; (iii) the increased Commitments will no existing Lender shall be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase under any obligation to increase its Commitment and such decision whether to increase its Commitment shall be in such Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) ’s sole and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lenderabsolute discretion; (iv) each of the Obligors and (A) any Increase new Lender shall assume obligations towards one another join this Agreement by executing such joinder documents required by the Administrative Agent and/or acquire rights against one another as (B) any existing Lender electing to increase its Commitment shall execute a commitment agreement satisfactory to the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender;Administrative Agent; and (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the other Finance Parties shall assume obligations towards one another date of such increase (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and acquire rights against one another as that Increase Lender attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viB) certifying that, before and after giving effect to such increase, (1) the Commitments representations and warranties contained in Article VI and the other Loan Documents are true and correct in all material respects on and as of the other Lenders date of such increase, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and except that for purposes of this Section 2.01(c), the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall continue in full force be deemed to refer to the most recent statements furnished pursuant to clauses (a) and effect; and (viib), respectively, of Section 7.01, and (2) no Default or Event of Default exists. The Borrower shall prepay any Loans owing by it and outstanding on the date of any such increase (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised Commitments arising from any nonratable increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Section. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Credit Agreement (Gevity Hr Inc)

Increase. The Borrower may request at any time and from time to time that the aggregate amount of the Revolving Loan Commitment be increased up to a maximum amount of $835,000,000; provided that (ai) The Company may by giving prior notice no increase in the Revolving Loan Commitment shall be made at a time when a Default or Event of Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Revolving Loan Commitment shall be made at any time after the Revolving Loan Commitment has been terminated, (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) the Borrower shall have delivered to the Agent by no later than certified resolutions of the Board of Directors of the Borrower authorizing such increase and borrowings in connection therewith and (v) all of the representations and warranties set forth in Section 6 (except for those contained in Sections 6.7 and 6.10) shall be true and correct in all material respects as of the date falling 20 Business Days after of such request and as of the effective date of such increase. In the event of such a cancellation of: requested increase in the Revolving Loan Commitment, (i) each of the Available Commitments Lenders shall be given not less than five Business Days to participate (in their sole discretion) in the increased Revolving Loan Commitment (x) initially to the extent of a Defaulting such Lender’s existing Commitment Percentage, (y) to the extent that the requested increase of the Revolving Loan Commitment is not fulfilled pursuant to the preceding clause (x), ratably in the proportion that the respective Commitment Percentages of the Lenders desiring to participate in the requested increase bear to the total of the Commitment Percentages of the increasing Lenders, and (z) to the extent that the requested increase in Revolving Loan Commitment is not fulfilled pursuant to clauses (x) and (y), Lenders may participate regardless of their Commitment Percentages, subject, in each case, to the consent of the Swing Line Lender and each L/C Issuer (subject to Section 2.9(c) hereof) and (ii) to the extent that the Lenders do not elect so to participate in such increased Revolving Loan Commitment after an opportunity to do so in accordance with Clause 9.5 clause (Right of cancellation in relation i) above, then the Borrower shall consult with the Agent as to a Defaulting Lender); or (ii) the number, identity and requested Revolving Loan Commitments of a additional financial institutions approved by the Swing Line Lender in accordance with Clause 9.1 and each L/C Issuer (Illegality), request subject to Section 2.9(c) hereof) that the Total Commitments be increased (Agent may invite to participate in the aggregate Revolving Loan Commitment. The Agent will not unreasonably refuse to so invite a commercial bank organized under the laws of the United States or of any State thereof, identified and requested by the Borrower, that has capital and surplus reasonably satisfactory to the Agent in light of the Revolving Loan Commitment which such commercial bank would assume hereunder. The Agent shall promptly notify the Borrower and the Total Commitments shall be so increased) Lenders of any increase in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member aggregate Revolving Loan Commitment pursuant to this Section and of the Group) respective adjusted Revolving Loan Commitment and which is further acceptable Commitment Percentage of each Lender after giving effect thereto. The Borrower acknowledges that, in order to maintain Loans in accordance with the Agent (acting reasonably) and Commitment Percentage of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Revolving Loan Commitment may require prepayment or funding of all or portions of certain Revolving Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Credit Agreement (Integrys Energy Group, Inc.)

Increase. (a) The Company Borrowers may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lenderclause 7.4(g); or (ii) the Commitments of a Lender in accordance with Clause 9.1 clause 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increasedincreased rateably) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments Commitment so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an Increase Lender) selected by the Company Borrowers (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms (such confirmation, if given by a Lender, to be given in its sole discretion) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iviii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viv) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viv) the Commitments of the other Lenders shall continue in full force and effect; and (viivi) any increase in the Total Commitments shall take effect on the date specified by the Company Borrowers in the notice referred to above or any later date on which the conditions set out in paragraph (bclause 2.2(b) below are satisfied.. UK-#395507908-v8 (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Borrowers and the Increase Lender. (c) Each of the other Finance Parties hereby appoint the Agent as its agent to execute on its behalf any Increase Confirmation delivered to the Agent in accordance with this clause 2.2. (d) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (de) Unless the Agent otherwise agrees or the increased Commitment is Commitments are assumed by an existing Lender, the Company Borrowers shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 $5,000 and the Company Borrowers shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause clause 2.2. (ef) The Company Borrowers may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrowers and the Increase Lender in a letter between the Borrowers and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this clause 2.2(f). (fg) Clause 27.4 33.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 clause 2.2(g) in relation to an Increase Lender as if references in that Clause clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” and “re-assignment” assignment were references to respectively a “transfer” and “an assignment.

Appears in 1 contract

Sources: Facility Agreement (Navigator Holdings Ltd.)

Increase. (a) The Company may by giving From time to time prior notice to the Agent Termination Date, the Borrower may increase the Total Commitment by no later than the date falling 20 Business Days after the effective date an aggregate amount of $100,000,000 (any such increase, a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation “Commitment Increase”), up to a Defaulting Lender); or (ii) the Commitments maximum Total Commitment of a Lender in accordance with Clause 9.1 (Illegality)$800,000,000, request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed 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 banksfinancial institutions reasonably acceptable to the Administrative Agent that at the time agree, in the case of any such bank or financial institutions, trusts, funds or other entities institution that is an existing Lender to increase its Commitment (each an “Increase Increasing Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them 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 Security 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 Borrower shall provide prompt notice of any proposed Commitment Increase pursuant to this subsection (b) to the Administrative Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay which shall promptly provide a copy of such notice to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee LetterLenders. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) Any Commitment Increase shall become effective upon (A) the receipt by the Administrative Agent of (1) an “Existing agreement in form and substance satisfactory to the Administrative Agent (x) signed by the Borrower, each Increasing Lender” were references , each Additional Lender and, if any portion of the Commitment Increase is to be allocated to increase the L/C Commitment Amount, the Fronting Bank, (y) setting forth the new Commitment of each such Lender and setting forth the agreement of each Additional Lender to become a party to this Agreement and to be bound by all the Lenders immediately prior terms and provisions hereof binding upon each Lender, and (z) if any portion of the Commitment Increase is to be allocated to increase the L/C Commitment Amount, setting forth the new L/C Commitment Amount, (2) certified copies of the Commitment Increase Approvals and such opinions of counsel for the Borrower with respect to the relevant increase;Commitment Increase as the Administrative Agent may reasonably request, and (3) a certificate (the statements contained in which shall be true) of a duly authorized officer of the Borrower stating that both before and after giving effect to such Commitment Increase (x) no Unmatured Default or Event of Default has occurred and is continuing, (y) all representations and warranties made by the Borrower in this Agreement are true and correct in all material respects, and (z) all Commitment Increase Approvals have been obtained and are in full force and effect, and (B) the funding by each Increasing Lender and Additional Lender of the Advance(s) to be made by each such Lender described in paragraph (iii) below. (ii) Upon the “New effective date of any Commitment Increase, each Increasing Lender and each Additional Lender shall provide funds to the Administrative Agent in the manner described in Section 3.03 in an amount equal to the product of (x) the aggregate principal amount of Advances outstanding hereunder, expressed as a percentage of the Total Commitment (calculated, in each case, immediately prior to such Commitment Increase) and (y) the amount of such Lender” were references ’s Commitment Increase. The funds so provided by any Lender shall be deemed to be an Advance or Advances made by such Lender on the date of such Commitment Increase, with such Advance(s) being (A) in an amount equal to the product of (x) the aggregate outstanding principal amount of each Advance expressed as a percentage of the Total Commitment (calculated, in each case, immediately prior to such Commitment Increase) and (y) the amount of such Lender’s Commitment Increase and (B) of the same Type(s) and having the same Interest Period(s) as each Advance described in the preceding clause (A), such that after giving effect to such Commitment Increase Lender”; andand the Advances(s) made on the date of such Commitment Increase, each Advance outstanding hereunder shall consist of Advances made by the Lenders ratably in accordance with their pro rata shares of the Total Commitment. (iii) a “re-transfer” Notwithstanding any provision contained herein to the contrary, from and “re-assignment” were references after the date of any Commitment Increase and the making of any Advances on such date pursuant to respectively a “transfer” paragraph (iii) above, all calculations and “assignment”payments of interest on the Advance comprising any Advances shall take into account the actual Commitment of each Lender and the principal amount outstanding of each Advance made by such Lender during the relevant period of time.

Appears in 1 contract

Sources: Credit Agreement (Western Massachusetts Electric Co)

Increase. (a) The Company Parent may by giving prior notice to the Facility Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.4 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 16 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate Base Currency Amount amount in U.S. Dollars of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an Increase Lender) selected by the Company Parent (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume (whether in the Increase Confirmation or otherwise) and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company Parent and the Increase Lender.; (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing LenderLender or Lenders, the Company Parent shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee of £1,500 U.S.$2,500 and the Company Parent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.22.10. (e) The Company Parent may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Parent and the Increase Lender in a separate Fee Letter. (f) Paragraphs (g), (h) and (i) of Clause 27.4 28.2 (Limitation of responsibility of Existing Transfers by Lenders) shall apply mutatis mutandis in this Clause 2.2 2.10 in relation to an Increase Lender as if references in that Clause to: (i) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (ii) the New Lender” Lender were references to that Increase Lender; and (iii) a re-transfer” and “re-assignment” transfer were references to respectively a transfer” and “assignment”.

Appears in 1 contract

Sources: Facilities Agreement (Autoliv Inc)

Increase. Whirlpool may request at any time and from time to time that the Aggregate Commitment be increased to a maximum amount of not more than $4,000,000,000; provided that (ai) The Company may by giving prior notice no increase in the Aggregate Commitment shall be made at a time when a Default or Unmatured Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Aggregate Commitment shall be made at any time after the Aggregate Commitment has been terminated in accordance with Section 2.03(c)(i), (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) to the extent that resolutions of Whirlpool previously delivered hereunder shall not have authorized such increase and borrowings, Whirlpool shall have delivered to the Administrative Agent by no later than certified resolutions of the date falling 20 Business Days after Board of Directors of Whirlpool authorizing such increase and borrowings in connection therewith and (v) all of the representations and warranties set forth in Article 6 (except for (x) those contained in Sections 6.04, 6.05 and 6.07 and (y) those contained in Sections 6.06 and 6.12 solely as such representations and warranties relate to any Subsidiary acquired in connection with a Material Acquisition (including any Subsidiary of the target of such Material Acquisition) consummated within 30 days prior to the effective date of a cancellation of: (isuch increase) shall be true and correct in all material respects as of the Available Commitments date of a Defaulting such request and as of the effective date of such increase. Any Lender may refuse to participate in accordance with Clause 9.5 (Right of cancellation any proposed increase in relation the Aggregate Commitment, and failure to a Defaulting Lender); or (ii) respond to any request to participate in an increase in the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Aggregate Commitments shall be deemed to constitute a refusal to so increased) participate. In the event of such a requested increase in the Commitment, Whirlpool shall consult with the Administrative Agent as to the number, identity and requested Commitments of increasing Lenders and additional financial institutions that the Administrative Agent may invite to participate in the aggregate Commitment, and the identity of such Lenders and allocations among such Lenders shall be as determined by Whirlpool in consultation with the Administrative Agent and the Issuing Lenders. The Administrative Agent will not unreasonably refuse to so invite a commercial bank organized, identified and requested by Whirlpool and approved by the Administrative Agent and each Issuing Lender (which approvals shall not be unreasonably withheld, conditioned or delayed); provided that each such assuming commercial bank shall, upon becoming a party to this Credit Agreement, become an aggregate Base Currency Amount increasing Lender. The Administrative Agent shall promptly notify Whirlpool and the Lenders of up to any increase in the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member Aggregate Commitment pursuant to this Section and of the Group) respective adjusted Commitment and which is further acceptable Ratable Share of each Lender after giving effect thereto. Each Borrower acknowledges that, in order to maintain Advances in accordance with the Agent (acting reasonably) and Ratable Share of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Commitment may require prepayment or funding of all or portions of certain Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Credit Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 10 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 7.5 (Right of cancellation Cancellation in relation Relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiiA) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities which are regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivB) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (vC) each Increase Lender shall become a Party as a “Lender” Lender and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viD) the Commitments of the other Lenders shall continue in full force and effect; and (viiE) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of being satisfied it has complied with all necessary know your customer” customer or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent or the Security Agent otherwise agrees agree or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 2,000 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 24.4 (Limitation of responsibility Responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Term Loan Facility Agreement (Amc Entertainment Holdings, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (f) of Clause 9.5 7.5 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lenderagrees, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 EUR 2,500 and the Company shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 23.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 (Increase) in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Facility Agreement (Delhaize Group)

Increase. (a) 2.2.1 The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (ia) the Available undrawn Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender)clause 7.5.7; or (iib) the Commitments of a Lender in accordance with Clause 9.1 clause 7.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments under the Facility shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments Commitment so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, banks or financial institutions, trusts, funds or other entities institutions (each an Increase Lender) selected by the Company Borrower (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below clause 2.2.2 are satisfied. (b) 2.2.2 An increase in the Total Commitments will only be effective on: (ia) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (iib) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) increase the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company Borrower and the Increase Lender. (c) 2.2.3 Each of the other Finance Parties hereby appoint the Agent as its agent to execute on its behalf any Increase Confirmation delivered to the Agent in accordance with this clause 2.2. 2.2.4 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) 2.2.5 Unless the Agent otherwise agrees or the increased Commitment is Commitments are assumed by an existing Lender, the Company Borrower shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 $3,500 and the Company Borrower shall within three (3) Business Days of promptly on demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause clause 2.2. (e) 2.2.6 The Company Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between the Company Borrower and the Increase Lender in a letter between the Borrower and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this clause 2.2.6. (f) 2.2.7 Clause 27.4 32.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 clause 2.2.7 in relation to an Increase Lender as if references in that Clause clause to: (ia) an Existing Lender” Lender were references to all the Lenders immediately prior to the relevant increase; (iib) the New Lender” Lender were references to that Increase Lender; and (iiic) a re-transfer” and “re-assignment” assignment were references to respectively a “transfer” and “an assignment.

Appears in 1 contract

Sources: Facility Agreement (Navigator Holdings Ltd.)

Increase. (a) The Company Borrower may by giving prior notice to the Agent by no later than the date falling 20 Business Days 10 days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 8.7 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments Commitment of a Lender in accordance with with: (A) Clause 9.1 8.1 (Illegality); or (B) paragraph (a) of Clause 8.6 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount amount of up to the amount of the Available Commitments or Commitments Commitment so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an Increase Lender) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (v) each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (vi) the Commitments of the other Lenders shall continue in full force and effect; andand APJ/MSXM/076001.00588/80174749.8Page 23 (vii) any increase in the Total Commitments shall take effect on the date specified by the Company Borrower in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedAgent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the The Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation shall, subject to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. paragraph (c) Each below, as soon as reasonably practicable after receipt by it of a duly completed Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute Confirmation appearing on its behalf any amendment or waiver that has been approved by or on behalf face to comply with the terms of the requisite Lender or Lenders this Agreement and delivered in accordance with the terms of this Agreement on or prior to the date on which the increase becomes effectiveAgreement, execute that Increase Confirmation. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Revolving Facility Agreement (StoneX Group Inc.)

Increase. Whirlpool may request at any time and from time to time that the Aggregate Commitment be increased to a maximum amount of not more than $2,000,000,000; provided that (ai) The Company may by giving prior notice no increase in the Aggregate Commitment shall be made at a time when a Default or Unmatured Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Aggregate Commitment shall be made at any time after the Aggregate Commitment has been terminated or reduced in accordance with Section 2.03(c)(i), (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) Whirlpool shall have delivered to the Administrative Agent by no later than certified resolutions of the Board of Directors of Whirlpool authorizing such increase and borrowings in connection therewith and (v) all of the representations and warranties set forth in Article 6 (except for those contained in Sections 6.04, 6.05 and 6.07) shall be true and correct in all material respects as of the date falling 20 Business Days after of such request and as of the effective date of a cancellation of: (i) such increase. Any Lender may refuse to participate in any proposed increase in the Available Commitments of a Defaulting Lender Aggregate Commitment, and failure to respond to any request to participate in accordance with Clause 9.5 (Right of cancellation an increase in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Aggregate Commitments shall be deemed to constitute a refusal to so increased) participate. In the event of such a requested increase in the Commitment, Whirlpool shall consult with the Administrative Agent, each Issuing Bank and each Fronting Bank as to the number, identity and requested Commitments of increasing Lenders and additional financial institutions that the Administrative Agent may invite to participate in the aggregate Commitment. The Administrative Agent will not unreasonably refuse to so invite a commercial bank organized, identified and requested by Whirlpool, that has capital and surplus reasonably satisfactory to the Administrative Agent, each Issuing Bank and each Fronting Bank in light of the Commitment which such commercial bank would assume hereunder; provided that each such assuming commercial bank shall, upon becoming a party to this Agreement, become an aggregate Base Currency Amount increasing Lender. The Administrative Agent shall promptly notify Whirlpool and the Lenders of up to any increase in the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member Aggregate Commitment pursuant to this Section and of the Group) respective adjusted Commitment and which is further acceptable Ratable Share of each Lender after giving effect thereto. Each Borrower acknowledges that, in order to maintain Advances in accordance with the Agent (acting reasonably) and Ratable Share of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Commitment may require prepayment or funding of all or portions of certain Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Credit Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Increase. (a) 2.2.1 The Company Parent may by giving prior notice to the Facility Agent by no later than the date falling 20 25 Business Days after the effective date of a cancellation of: (ia) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 11.5 (Right Cancellation of cancellation in relation to a Defaulting Lender); or (iib) the Commitments of a Lender in accordance with Clause 9.1 14.1 (Illegality), request that the Revolving Facility Total Commitments be increased (and the Revolving Facility Total Commitments shall be so increased) in an aggregate Base Currency Amount amount in U.S. Dollars of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iiii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company Parent (each of which shall not be an Investor Affiliate or a member of the Group) Group and which is further acceptable to the Facility Agent (acting reasonably)) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lendera Lender on the Signing Date; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lendera Lender on the Signing Date; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lendera Lender on the Signing Date; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Revolving Facility Total Commitments shall take effect on the date specified by the Company Parent in the notice referred to above or any later date on which the conditions set out in paragraph (b) sub-clause 2.2.2 below are satisfied. (b) 2.2.2 An increase in the Revolving Facility Total Commitments will only be effective on: (ia) the execution by the Facility Agent of an Increase Confirmation from the relevant Increase Lender;; and (iib) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) , the performance by the Facility Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Facility Agent shall promptly notify to the Company Parent and the Increase Lender. (c) 2.2.3 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) 2.2.4 Unless the Facility Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company Increase Lender shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee of £$1,500 and the Company Parent shall within three (3) Business Days of promptly on demand pay the Agent and the Security Facility Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate it in connection with any increase in Commitments under this Clause 2.22.2 (Increase). (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) 2.2.5 Clause 27.4 23.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 (Increase) in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Revolving Credit Facilities Agreement (WPP PLC)

Increase. (a) The Company may at any time and from time to time, by giving prior written notice to the Agent by no later than Interim Facility Agent, request that the date falling 20 Business Days Interim Commitments relating to any Interim Facility be increased (and the Interim Commitments relating to that Interim Facility shall be so increased) if: (i) such increase takes effect after the effective date a cancellation of (or in advance of a cancellation of but in connection with a cancellation, repayment or prepayment of) any Interim Commitments of a Non-Consenting Lender, Defaulting Interim Lender or Replaced Interim Lender or of any Interim Lender in accordance with Clause 7.1 (Illegality) or Clause 7.2 (Change of Control) or otherwise in connection with Clause 2.3 (Replacement of an Interim Lender); (ii) such increase is contemplated by or otherwise permitted under the terms of the Commitment Documents or the Interim Documents or required to implement or complete the Transactions or is in respect of a rollover, roll- in or exchange of debt (or similar) in a manner permitted by the Commitment Documents or the Interim Documents; or (iii) such Interim Commitments will be used to replace or refinance (or are to replace or refinance) other commitments under or in respect of this Agreement. (b) Following a request as described in paragraph (a) above: (i) the Available Commitments of a Defaulting Lender in accordance with Clause 9.5 (Right of cancellation in relation to a Defaulting Lender); or (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality), request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Interim Commitments will be assumed by one or more Interim Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a an Interim Lender corresponding to that part of the increased Interim Commitments which it is to assume, as if it had been an Original Lender; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Interim Lender; (viii) upon signing the relevant Increase Confirmation, each Increase Lender shall become a Party as a “Lender” an Interim Lender and any Increase Lender and each of the other Interim Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Interim Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Interim Lender; (viiv) the Interim Commitments of the other Interim Lenders shall continue in full force and effect; and (viiv) any increase in the Total Interim Commitments relating to an Interim Facility shall take effect on the date specified by the Company in the notice Increase Confirmation referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lenderabove. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Interim Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Interim Lender or Interim Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company The Increase Lender shall, on the date upon which the increase takes effect, pay to the Interim Facility Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 21.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 21.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 21.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 2.4 in relation to an Increase Lender as if references in that Clause 21.4 to: (i) an “Existing Lender” were references to all the Interim Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that Increase Lender; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Interim Facilities Agreement

Increase. (a) The Company may by giving prior notice to the Facility Agent (with a copy to the relevant Swingline Agent) by no later than the date falling 20 five Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (g) of Clause 9.5 ‎‎9.6 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 ‎‎9.1 (Illegality); or (B) paragraph (a) of Clause ‎‎9.6 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments relating to any Revolving Facility (and related Swingline Facility) be increased (and the Total Commitments relating to that Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments relating to that Revolving Facility (including the amount of the Available Commitments under the relevant Swingline Facility or the relevant Swingline Commitments) so cancelled as follows: (iiii) the increased Commitments (including any Swingline Commitments) will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities Eligible Institutions (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original LenderLender in respect of those Commitments; (ivii) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viii) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original LenderLender in respect of that part of the increased Commitments which it is to assume; (viiv) the Commitments of the other Lenders shall continue in full force and effect; and (viiv) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfiedFacility Agent executes an otherwise duly completed Increase Confirmation delivered to it by the relevant Increase Lender. (b) An increase The Facility Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Increase Confirmation appearing on its face to comply with the terms of this Agreement and delivered in accordance with the Total Commitments will terms of this Agreement, execute that Increase Confirmation. (c) The Facility Agent shall only be effective on: (i) the execution by the Agent of obliged to execute an Increase Confirmation from the relevant Increase Lender; (ii) in relation delivered to it by an Increase Lender which once it is not a Lender immediately prior to satisfied that it, the relevant increase: (A) Swingline Agent and the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Security Agent of have complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (cd) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effectiveeffective in accordance with this Agreement and that it is bound by that decision to the same extent as it would have been had it been an Original Lender. (de) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the The Company shall within three (3) Business Days of promptly on demand pay the Facility Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2‎‎2.2. (ef) The Increase Lender shall, on the date upon which the increase takes effect, pay to the Facility Agent (for its own account) a fee in an amount equal to the fee which would be payable under Clause ‎‎26.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause ‎‎26.6 (Procedure for transfer) and if the Increase Lender was a New Lender. (g) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph (g). (fh) Neither the Facility Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. (i) Clause 27.4 ‎‎26.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 ‎‎2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Amendment and Restatement Agreement (Cboe Global Markets, Inc.)

Increase. (a) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments of a Defaulting Lender in accordance with paragraph (f) of Clause 9.5 8.5 (Right of replacement or repayment and cancellation in relation to a Defaulting single Lender); or (ii) the Commitments of a Lender in accordance with with: (A) Clause 9.1 8.1 (Illegality); or (B) Paragraph (a) of Clause 8.5 (Right of replacement or repayment and cancellation in relation to a single Lender), request that the Total Commitments relating to the Facility be increased (and the Total Commitments relating to the Facility shall be so increased) in an aggregate amount in the Base Currency Amount of up to the amount of the Available Commitments or Commitments relating to that Facility so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member of the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms in writing by executing an Increase Confirmation its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments relating to a Facility shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments relating to a Facility will only be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender;; and (ii) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by increase the Agent of being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the . The Agent shall promptly notify to the Company and the Increase LenderLender upon being so satisfied. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless The Company shall, promptly on demand, pay to the Agent otherwise agrees the amount of all costs and expenses (including legal fees) reasonably incurred by it in connection with any increase in Commitments under this Clause 2.2 or the increased Commitment is assumed by an existing Lender, the Company under Clause 2.3 (New Commitments). (e) The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 in an amount equal to the fee which would be payable under Clause 24.3 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 24.5 (Procedure for transfer) and if the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2Increase Lender was a New Lender. (ef) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in this Agreement to a Fee LetterLetter shall include any letter referred to in this paragraph (f). (fg) Clause 27.4 24.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 and in Clause 2.3 (New Commitments) in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Multicurrency Revolving Facility Agreement (Markit Ltd.)

Increase. i. Upon the Eighth Amendment Effective Date (adefined below) The Company may by giving prior notice to the Agent by no later than the date falling 20 Business Days after the effective date of a cancellation of: (i) the Available Commitments Term Loan Increase in the aggregate amount of a Defaulting Lender $51,250,000 shall be provided by the applicable Increasing Lenders in accordance with Clause 9.5 (Right of cancellation in relation the amounts set forth on Annex I to a Defaulting Lender); or this Amendment, (ii) the Commitments of a Lender in accordance with Clause 9.1 (Illegality)Term Loan Increase will be advanced by such applicable Increasing Lenders on the Eighth Amendment Effective Date, request that the Total Commitments be increased (and the Total Commitments shall be so increased) in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments Term Loan A Commitments, Term Loan A amounts and Term Loan A Commitment Percentage of each Lender holding any portion of the Term Loan A (after giving effect to the Term Loan Increase) will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected updated on the Eight Amendment Effective Date by the Company (each of which shall not be an Investor Affiliate or a member of Administrative Agent to reflect the Group) and which is further acceptable to the Agent (acting reasonably) and each of which confirms its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assumeTerm Loan Increase, as if it had been an Original Lender; (iv) each the quarterly amortization amounts of the Obligors Term Loan A pursuant to Section 2.6(c) of the Existing Credit Agreement (commencing with the first payment due after the Eighth Amendment Effective Date) shall be adjusted and any amended by the Administrative Agent to give effect to the Term Loan Increase Lender and this Amendment and shall assume obligations towards one another and/or acquire rights against one another as the Obligors be in amounts set forth on Annex II to this Amendment, and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had Existing Credit Agreement will be deemed amended to effectuate the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any increase in the Total Commitments shall take effect on the date specified by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only be effective on: foregoing clauses (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; through (iiiv) in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender. (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to Sections 2.1(d) and 2.1(e) of the date on which Existing Credit Agreement. In connection with the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing LenderTerm Loan Increase, the Company shall, on Administrative Agent may make such adjustments between and among the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 applicable Lenders and the Company shall within three (3) Business Days of demand pay Borrower as are reasonably necessary to effectuate the Agent and the Security Agent the amount of all reasonable and documented costs and expenses Term Loan Increase (including legal fees) reasonably incurred by either of them and, in the case reallocations of the Security AgentTerm Loan A outstandings of the applicable Lenders among Interest Periods), by any Receiver or Delegate and in connection with therewith, the Borrower shall pay any increase in Commitments under this Clause 2.2. additional amounts required pursuant to Section 3.1(c) of the Credit Agreement (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender including as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” any reallocations constituted prepayments and “re-assignment” were references to respectively a “transfer” and “assignment”reborrowings).

Appears in 1 contract

Sources: Credit Agreement (Ebix Inc)

Increase. The Borrower may request at any time and from time to time that the aggregate amount of the Revolving Loan Commitment be increased up to a maximum amount of $665,000,000; provided that (ai) The Company may by giving prior notice no increase in the Revolving Loan Commitment shall be made at a time when a Default or Event of Default shall have occurred and be continuing or would result from the requested increase, (ii) no increase in the Revolving Loan Commitment shall be made at any time after the Revolving Loan Commitment has been terminated, (iii) each partial increase shall be made in an aggregate amount at least equal to $10,000,000 and in integral multiples of $5,000,000 above such amount, (iv) the Borrower shall have delivered to the Agent by no later than certified resolutions of the Board of Directors of the Borrower authorizing such increase and borrowings in connection therewith and (v) all of the representations and warranties set forth in Section 6 (except for those contained in Sections 6.7 and 6.10) shall be true and correct in all material respects as of the date falling 20 Business Days after of such request and as of the effective date of such increase. In the event of such a cancellation of: requested increase in the Revolving Loan Commitment, (i) each of the Available Commitments Lenders shall be given not less than five Business Days to participate (in their sole discretion) in the increased Revolving Loan Commitment (x) initially to the extent of a Defaulting such Lender’s existing Commitment Percentage, (y) to the extent that the requested increase of the Revolving Loan Commitment is not fulfilled pursuant to the preceding clause (x), ratably in the proportion that the respective Commitment Percentages of the Lenders desiring to participate in the requested increase bear to the total of the Commitment Percentages of the increasing Lenders, and (z) to the extent that the requested increase in Revolving Loan Commitment is not fulfilled pursuant to clauses (x) and (y), Lenders may participate regardless of their Commitment Percentages, subject, in each case, to the consent of the Swing Line Lender and each L/C Issuer (subject to Section 2.9(c) hereof) and (ii) to the extent that the Lenders do not elect so to participate in such increased Revolving Loan Commitment after an opportunity to do so in accordance with Clause 9.5 clause (Right of cancellation in relation i) above, then the Borrower shall consult with the Agent as to a Defaulting Lender); or (ii) the number, identity and requested Revolving Loan Commitments of a additional financial institutions approved by the Swing Line Lender in accordance with Clause 9.1 and each L/C Issuer (Illegality), request subject to Section 2.9(c) hereof) that the Total Commitments be increased (Agent may invite to participate in the aggregate Revolving Loan Commitment. The Agent will not unreasonably refuse to so invite a commercial bank organized under the laws of the United States or of any State thereof, identified and requested by the Borrower, that has capital and surplus reasonably satisfactory to the Agent in light of the Revolving Loan Commitment which such commercial bank would assume hereunder. The Agent shall promptly notify the Borrower and the Total Commitments shall be so increased) Lenders of any increase in an aggregate Base Currency Amount of up to the amount of the Available Commitments or Commitments so cancelled as follows: (iii) the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions, trusts, funds or other entities (each an “Increase Lender”) selected by the Company (each of which shall not be an Investor Affiliate or a member aggregate Revolving Loan Commitment pursuant to this Section and of the Group) respective adjusted Revolving Loan Commitment and which is further acceptable Commitment Percentage of each Lender after giving effect thereto. The Borrower acknowledges that, in order to maintain Loans in accordance with the Agent (acting reasonably) and Commitment Percentage of each of which confirms its willingness to assume and does assume all the obligations of Lender, a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; (iv) each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; (v) each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender; (vi) the Commitments of the other Lenders shall continue in full force and effect; and (vii) any non-pro-rata increase in the Total Commitments shall take effect aggregate Revolving Loan Commitment may require prepayment or funding of all or portions of certain Revolving Loans on the date specified by the Company in the notice referred to above of such increase (and any such prepayment or any later date on which the conditions set out in paragraph (b) below are satisfied. (b) An increase in the Total Commitments will only funding shall be effective on: (i) the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; (ii) in relation to an Increase Lender which is not a Lender immediately prior subject to the relevant increase: (A) the Increase Lender entering into the documentation required for it to accede as a party to the Intercreditor other provisions of this Agreement; and (B) the performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender, the completion of which the Agent shall promptly notify to the Company and the Increase Lender). (c) Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective. (d) Unless the Agent otherwise agrees or the increased Commitment is assumed by an existing Lender, the Company shall, on the date upon which the increase takes effect, pay to the Agent (for its own account) a fee of £1,500 and the Company shall within three (3) Business Days of demand pay the Agent and the Security Agent the amount of all reasonable and documented costs and expenses (including legal fees) reasonably incurred by either of them and, in the case of the Security Agent, by any Receiver or Delegate in connection with any increase in Commitments under this Clause 2.2. (e) The Company may pay to the Increase Lender a fee in the amount and at the times agreed between the Company and the Increase Lender in a Fee Letter. (f) Clause 27.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to: (i) an “Existing Lender” were references to all the Lenders immediately prior to the relevant increase; (ii) the “New Lender” were references to that “Increase Lender”; and (iii) a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”.

Appears in 1 contract

Sources: Credit Agreement (Integrys Energy Group, Inc.)