Common use of Optional Increase in Commitments Clause in Contracts

Optional Increase in Commitments. (a) At any time, if no Default shall have occurred and be continuing, the Borrower may, upon at least 30 days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount not greater than $87,500,000 (the amount of any such increase, the "INCREASED COMMITMENTS"). Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice to elect by notice to the Borrower and the Administrative Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing. Any Bank not responding within 15 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Optional Increase in Commitments. (a) At any timetime prior to the Termination Date, if no Default shall have occurred and be continuing, the Borrower may, upon at least 30 days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount not greater than $87,500,000 250,000,000 (the amount of any such increase, the "INCREASED COMMITMENTSIncreased Commitments"). Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 30 days following receipt of such notice to elect by notice to the Borrower and the Administrative Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing. Any Bank not responding within 15 30 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Optional Increase in Commitments. (a) At any timetime prior to the Termination Date, if no Default shall have occurred and be continuing, the Borrower may, upon at least 30 days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount not greater than $87,500,000 125,000,000 (the amount of any such increase, the "INCREASED COMMITMENTSIncreased Commitments"). Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 30 days following receipt of such notice to elect by notice to the Borrower and the Administrative Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing. Any Bank not responding within 15 30 days of receipt of such notice shall be deemed to have declined to increase its Commitment.