Optional Increase Clause Samples

Optional Increase. (a) The Company may, at any time or times during the term of this Agreement, by written notice in the form of Exhibit J to the Administrative Agent, make one or more requests that the aggregate amount of the Revolving Commitments be increased, or that Commitments to make Additional Term Loans be committed to, in an aggregate amount (for all such increases) not to exceed $100,000,000 (each, a "Commitment Increase"), with any such Commitment Increase to be effective as of a date (the "Increase Date") specified in the related notice to the Administrative Agent that is at least 30 Business Days after the date of such notice; provided, however, that (i) no Event of Default or Unmatured Event of Default shall have occurred and be continuing and (ii) the Company shall be in compliance with all financial covenants set forth in Sections 8.11, 8.12, 8.13 and 8.14 on a pro forma basis for the period of four consecutive fiscal quarters ending on the last day of the last completed fiscal quarter immediately preceding the date the Commitment Increase is proposed to become effective (on the assumption that the full amount of Indebtedness represented by the Commitment Increase was outstanding for the entire such period). (b) The Administrative Agent shall promptly notify the Lenders (as well as any other financial institution specified by the Company and reasonably acceptable to the Administrative Agent (each such financial institution that is not a Lender, a "Proposed New Lender")) of the request by the Company for the Commitment Increase, which notice shall include (A) the proposed amount of the requested Commitment Increase, (B) the proposed Increase Date and (C) the date by which Lenders and Proposed New Lenders wishing to participate in the Commitment Increase must commit to participate in such Commitment Increase (the "Commitment Date"), which date shall be no later than five Business Days prior to the Increase Date. (c) Each Lender and Proposed New Lender that is willing to participate in such Commitment Increase (each, an "Increasing Lender") shall give written notice to the Administrative Agent no later than 10:00 a.m. (San Francisco time) on the Commitment Date of the amount by which it is willing to participate in such Commitment Increase, which amount shall not exceed the amount of the requested Commitment Increase. It shall be in each Lender's sole discretion whether to offer to participate in such Commitment Increase. If the Lenders and Proposed New Lenders ...
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Optional Increase. (a) On the terms and subject to the conditions set forth below, the U.S. Borrower may, at any time before the Maturity Date, increase the Aggregate Commitments; provided that: (i) after giving effect to the requested increase, the aggregate amount of the increases in the Aggregate Commitments shall not exceed $75,000,000; (ii) the Administrative Agent shall have consented to the requested increase and all required third party consents and approvals shall have been obtained; (iii) prior to the date of any proposed increase, the Aggregate Commitments shall not have been decreased pursuant to Section 2.09; (iv) each such increase in the Aggregate Commitments shall be equal to $10,000,000 or an integral multiple of $5,000,000 in excess thereof; (v) no Default shall have occurred and be continuing or shall occur as a result of such increase; and (vi) the Borrowers shall have executed and delivered such documents and instruments and taken such other actions as may be reasonably requested by the Administrative Agent in connection with such increases in the Aggregate Commitments (including new or amended notes, any related fee letters, documents evidencing the increased Commitment held by any applicable Lender, any joinder agreements related to a New Lender, resolutions regarding the increase in the Aggregate Commitments and related actions taken by the Borrowers, certified as true and correct by a Financial Officer and legal opinions, all in form and substance reasonably satisfactory to the Administrative Agent). Any request under this Section 2.23 shall be submitted by the U.S. Borrower to the Administrative Agent (which shall promptly forward copies to the Lenders), specify the proposed effective date and amount of such increase and be accompanied by a certificate of a Financial Officer stating that no Default exists or will occur as a result of such increase. If any fees are to be paid or offered in connection with such increase, the Administrative Agent (with the consent of the U.S. Borrower) may also specify any fees offered to those Lenders (the “Increasing Lenders”) which agree to increase the amount of their respective Commitment, which fees may be variable based upon the amount by which any such Lender is willing to increase the amount of its Commitment; no Lender which is not an Increasing Lender shall be entitled to receive any such fees. No Lender shall have any obligation, express or implied, to offer to increase the amount of its Commitment. Only th...
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Optional Increase. Section 2.01(b)(i)(A) of the Existing Credit Agreement is hereby amended by adding the phrase “from and after the First Amendment Effective Date” after “increases in the Total Revolving Loan Commitment” therein.
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Optional Increase. (a) Provided that no Default then exists, the Borrowers may on any Business Day prior to the Commitment Termination Date, request from time to time in writing that the then effective Commitment Amount be increased or one or more term loan commitments (a “Term Loan Commitment”) be created in an aggregate principal amount not to exceed $250,000,000. Any request under this Section to increase the Commitment Amount or create a Term Loan Commitment shall be submitted by the Borrowers to the Administrative Agent, specify the proposed effective date (which date shall be not less than 5 days after the date of such request) and specify the amount of such increase (which shall be in integral multiples of $1,000,000). No Lender shall have any obligation, express or implied, to offer to increase its Commitment or offer a Term Loan Commitment. Only the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed) and those Lenders agreeing to increase their Commitments (the “Increasing Lenders”) shall be required for an increase in the Commitment Amount pursuant to this Section.
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Optional Increase. Borrower shall have the right, without the consent of the Banks but with the prior approval of the Administrative Agent, not to be unreasonably withheld, to cause from time to time an increase in the aggregate Commitments by adding to this Agreement one or more additional Banks or by allowing one or more Banks to increase their respective Commitments; provided however (i) no Default shall have occurred hereunder which is continuing, (ii) no such increase shall result in the aggregate Commitments to exceed $350,000,000, and (iii) no Bank’s Commitment shall be increased without such Bank’s consent. Upon any increase in the aggregate Commitments pursuant to the immediately preceding sentence, the Banks hereby authorize the Administrative Agent and the Borrower to make non-ratable borrowings and prepayments of the Loans, and if any such prepayment requires the payment of Euro-Dollar Loans, Borrower shall pay any required amounts pursuant to Section 2.11 other than on the last day of the applicable Interest Period, in order to ensure that the Loans of the Banks shall be outstanding on a ratable basis in accordance with their respective Commitments after taking into account such increase, and no such borrowing or prepayment shall violate any provisions of this Agreement.
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Optional Increase. (a) The Company may, on not more than two occasions during the term of this Agreement, by written notice to the Administrative Agent, request that the Revolving Commitment Amount be increased in an aggregate amount (for all such increases) not to exceed $25,000,000 (each, a "Commitment Increase"), with any such Commitment Increase to be effective as of a date (each, an "Increase Date") specified in the related notice to the Administrative Agent that is at least 30 Business Days after the date of such notice; provided, however, that (i) no Event of Default or Unmatured Event of Default shall have occurred and be continuing and (ii) no Commitment Increase may occur after June 30, 2003.
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Optional Increase 
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Related to Optional Increase

  • Optional Increase in Commitments Following the Effective Date, the Borrower may, if it so elects, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender (a “New Lender”) to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent and each Issuing Lender, which consents will not be unreasonably withheld or delayed), or by agreeing with an existing Lender that such Lender’s Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or New Lender of an instrument in form reasonably satisfactory to the Administrative Agent, together with such evidence of appropriate corporate authorization on the part of the Borrower with respect to the increased Commitments and such opinions of counsel for the Borrower with respect to the increased Commitments as the Administrative Agent may reasonably request, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided: (i) that the Borrower shall provide prompt notice of such increase to the Administrative Agent, who shall promptly notify the Lenders; (ii) the conditions set forth in Sections 3.02(c) and (d) shall be satisfied on and as of the effective date of any increase in Commitments pursuant to this Section 2.18; (iii) that any such increase shall be in an amount which is a multiple of $10,000,000; and (iv) that immediately after such increase is made, the aggregate amount of increases in the Commitments pursuant to this Section 2.18 shall not exceed $250,000,000. On the effective date of any increase in the aggregate amount of the Commitments pursuant to this Section 2.18, (i) each New Lender shall pay to the Administrative Agent an amount equal to its pro rata share of the aggregate outstanding Loans (and funded participations, if any, in Letters of Credit) and (ii) any Lender whose Commitment has been increased (an “Increasing Lender”) shall pay to the Administrative Agent an amount equal to the increase in its pro rata share of the aggregate outstanding Loans (and funded participations as above); in each case such payments shall be for the account of each other Lender. Upon receipt of such amount by the Administrative Agent, (A) each other Lender shall be deemed to have ratably assigned that portion of its outstanding Loans that is being reduced to the New Lenders and the Increasing Lenders in accordance with such Lender’s new Commitment or the increased portion thereof as applicable, (B) the Administrative Agent shall promptly distribute to each other Lender its ratable share of the amounts received by the Administrative Agent pursuant to this paragraph and (C) the participations of the Lenders in outstanding Letters of Credit shall be determined in accordance with their Commitments after giving effect to such increase. For the avoidance of doubt, no existing Lender shall have any obligation to participate in such increase except in its absolute and sole discretion.

  • Commitment Increase The Borrower may, by giving at least 15 Business Days’ notice to the Administrative Agent, propose that the Aggregate Facility Amount be increased (each such proposed increase being a “Commitment Increase”), through an increase of the Commitment of one or more existing Lenders (each an “Increasing Lender”) and/or the addition of one or more Persons (who must be Eligible Assignees) as assuming Lenders (each an “Assuming Lender”), 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 the following limitations shall apply: (A) the Borrower may not propose more than two Commitment Increases during any calendar quarter, (B) the proposed Commitment Increase in respect of the Commitment of any Increasing Lender or any Assuming Lender shall for each Commitment Increase Date be no less than $100,000,000, (C) the Aggregate Facility Amount may not in any event at any time exceed $2,000,000,000, (D) no Default or Event of Default shall have occurred and be continuing on the relevant Commitment Increase Date or shall result from the proposed Commitment Increase, and (E) the representations and warranties in Article V shall be true in all material respects on and as of the Commitment Increase Date as if made on and as of such date. The Administrative Agent shall notify the Lenders of a proposed Commitment Increase promptly upon its receipt of notice from the Borrower with respect thereto. Each Lender will consider in good faith any such proposed Commitment Increase, provided that it shall be in each Lender’s sole discretion whether to agree to increase its Commitment hereunder in connection therewith. No later than 10 Business Days after its receipt of the Borrower’s notice proposing a Commitment Increase, each Lender that is willing to increase its Commitment hereunder 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 (any Lender not responding by such time to be deemed not to have agreed to such increase in its Commitment), and the Administrative Agent shall promptly provide to the Borrower a copy of such Increasing Lender’s notice. The Administrative Agent shall cooperate with the Borrower in discussions with the Lenders and Eligible Assignees with a 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 and the Administrative Agent shall use its reasonable efforts to secure any such proposed Commitment Increase (provided that any such addition of an Eligible Assignee as an Assuming Lender shall be subject to the consent of the Administrative Agent and the Issuing Lender, which consent shall not be unreasonably withheld or delayed); provided, that any allocations of any increase of Commitments hereunder (including any allocation as between Increasing Lenders and Assuming Lenders) shall be determined by the Borrower in its sole discretion.

  • Annual Increments ‌ 12.1 Employees will proceed to the maximum of their salary range by annual increments, after 12 months’ continuous service at each increment point, unless there is an adverse report on the Employee's performance or conduct which recommends the non-payment of an annual increment. 12.2 The following process will apply where a report on an Employee’s performance or conduct recommends the non-payment of an annual increment: (a) The Employee will be shown the report prior to completing 12 months’ continuous service since their last incremental advance; (b) The Employee will be provided with an opportunity to comment in writing; (c) The Employee’s comments will be considered immediately by the Employer and a decision made as to whether to approve the payment of the increment or withhold payment for a specific period; and (d) Where the increment is withheld, the Employer before the expiry of the specified period will complete a further report and the above provisions will apply. 12.3 The non-payment of an increment will not change the normal anniversary date of any further increment payments. 12.4 For the purposes of this clause "continuous service", except where an increment is payable according to age, will not include any period: (a) exceeding 14 calendar days during which an Employee is absent on Leave Without Pay. In the case of leave without pay which exceeds 14 calendar days the entire period of such Leave Without Pay is excised in full; (b) which exceeds six (6) months in one continuous period during which an Employee is absent on workers' compensation. Provided that only that portion of such continuous absence which exceeds six (6) months will not count as "continuous service"; and (c) which exceeds three (3) months in one (1) continuous period during which an Employee is absent on Personal Leave without pay. Provided that only that portion of such continuous absence which exceeds three (3) months will not count as "continuous service".

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Wage Increase 1. The minimum hourly wage amounts in the salary table in column I (job grades 1 up to and includ- ing 3) concern the statutory minimum wage and are adjusted in the event of an increase in the statutory minimum wage. 2. Each calendar year, in principle before 1 July, the CLA parties shall conduct talks on the adjust- ment of the (other) amounts shown in the salary table (column I, job grades 4 up to and including 6, column II and III) in article 28(2) of the CLA from 1 July of that year. 3. If an adjustment of the salary table (column I, job grades 4 up to and including 6, columns II and III) is agreed pursuant to paragraph 2 of this article, this will be applied as follows: a. The salary table (column I, job grades 4 up to and including 6, columns II and III) will be increased by the agreed percentage and b. the actual wage of the temporary agency worker will be increased by the agreed percentage from the agreed date.