Common use of Right to Increase Commitment Clause in Contracts

Right to Increase Commitment. Subject to the terms, conditions and limitations of this Article, Borrower shall have the right, during the Fixed Facility Availability Period, to increase the Fixed Facility Commitment and, during the Variable Facility Availability Period, to increase the Variable Facility Commitment. Borrower's right to increase the Commitment is subject to the following limitations: (a) Maximum Amount of Increase in Commitment. As of the Initial Closing Date, the amount of the Commitment is $390,000,000. The maximum amount by which the Commitment may be increased is $10,000,000.

Appears in 1 contract

Sources: Master Credit Facility Agreement (Sun Communities Inc)

Right to Increase Commitment. Subject to the terms, conditions and limitations of this Article, Borrower shall have the right, during the Fixed Facility Availability Period, to increase the Variable Facility Commitment (provided that no increase in the Variable Facility Commitment shall occur after the Recourse Termination Date), the Fixed Facility Commitment and, during the Variable Facility Availability Period, to increase the Variable Facility Commitmentor both. Borrower's right to increase the Commitment is subject to the following limitations: (a) Maximum Amount of Increase in Commitment. As of the Initial Closing Date, the amount of the Commitment is $390,000,000. The maximum amount by which the Commitment may be increased is $10,000,000150,000,000, for a maximum total Commitment of $250,000,000.

Appears in 1 contract

Sources: Master Credit Facility Agreement (Bre Properties Inc /Md/)

Right to Increase Commitment. Subject to the terms, conditions and limitations of this Article, Borrower shall have the right, during the Fixed Facility Availability Period, to increase the Fixed Facility Commitment and, during the Variable Facility Availability Advance Period, to increase the Variable Facility Commitment. Either Commitment may be increased by the addition of Collateral to the Collateral Pool and/or increases in the value of the Mortgaged Properties. Borrower's right to increase the Commitment is subject to the following limitations: (a) Maximum Amount of Increase in Commitment. As of the Initial Closing Date, the amount of the Commitment is $390,000,000. The maximum amount by which the Commitment may be increased is $10,000,00040,000,000.

Appears in 1 contract

Sources: Master Credit Facility Agreement (Sunrise Assisted Living Inc)