Temporary Increases Sample Clauses
The "Temporary Increases" clause allows for a short-term adjustment to a contractual obligation, such as raising a credit limit or expanding service capacity for a defined period. Typically, this clause outlines the conditions under which the increase is granted, the duration of the temporary change, and any requirements for reverting to the original terms once the period ends. Its core function is to provide flexibility for parties to accommodate temporary needs or fluctuations without permanently altering the underlying agreement.
Temporary Increases. (a) The Borrower may from time to time, provided no Default has occurred and is continuing, request a temporary increase in the Commitment for one or more periods of time (each, a “Temporary Increase”) by delivering to the Agent a request for a Temporary Increase in substantially the form attached hereto as Exhibit H-1, with such changes to such form as the Agent, in its sole discretion, shall deem necessary. If the Temporary Increase is approved by the Agent in its unrestricted discretion, the Borrower shall complete, execute and deliver to the Lenders a temporary increase agreement and promissory notes evidencing the temporary increase in the Commitment in substantially the forms attached hereto as Exhibit H-2 and Exhibit A to Exhibit H-2, respectively (with such changes to such form as the Agent, in its sole discretion, shall deem necessary), accompanied by such documents and agreements as are referenced in or required under each such temporary increase agreement. For the avoidance of doubt, and notwithstanding the Agent’s ability to approve or refuse Temporary Increases, no Lender’s Commitment Amount shall be increased as a result of a Temporary Increase without such Lender’s consent.
(b) The Lenders whose Commitment Amounts will temporarily increase as a result of a Temporary Increase shall set such conditions as such Lenders may determine must be fulfilled prior to granting, and such terms as shall be applicable to, any such Temporary Increase; provided, however, that the Agent shall promptly notify the Borrower in writing of any additional conditions and terms, and the Borrower may withdraw such request if the conditions and terms are not acceptable to the Borrower.
(c) In addition to any conditions set by the Lenders under Section 11.6(b), each such temporary increase agreement shall be subject to all of the terms and conditions of this Agreement.
(d) The Lenders’ agreement to any Temporary Increase shall not bind the Lenders to grant or extend any other or further Temporary Increase.
Temporary Increases. All vacancies resulting from anticipated increases in operating levels for a period of sixty (60) days or more, or vacancies created by promotion, death, discharge, voluntary termination, retirement or transfer out of the seniority unit shall be treated as permanent; provided, however, that in the event an increase in operating levels is not expected to continue, and does not, in fact, continue for more than sixty (60) days, any vacancies created shall be deemed temporary and not permanent for the purposes of this Article. The period of sixty (60) days or more will not be considered interrupted or abbreviated due to work interruptions caused by equipment failures, breakdowns, lack of material for processing and product flow problems adversely affecting the feed stock required to maintain a level of operations.
Temporary Increases. During the Temporary Increase Period, provided there exists no Event of Default and the Purchaser has agreed in its discretion to a Temporary Increase Amount of the Maximum Amount in accordance with the definition thereof, the Temporary Increase Provisions shall be applicable in accordance with the terms thereof.
Temporary Increases. The Bank may at its discretion, upon request from the Borrower and subject to the Bank’s pricing mandates in force from time to time, approve a temporary increase in the Short-term Facilities and this Facility Agreement will be deemed to have been amended accordingly upon first utilisation of the temporary increase.
Temporary Increases. This Agreement shall not be deemed abrogated or breached if the Board of Directors of Company shall determine to increase the compensation of Employee for any period of time, and thereafter reduce the same to the amounts provided in Paragraph 4)a. and 4)b. above.