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Aggregate Commitments
Aggregate Commitments contract clause examples

Commitments. For purposes of clarity, in conjunction with the execution of this Amendment, Borrower, Administrative Agent and certain of the Lenders are entering into that certain Increase Agreement, dated as of even date herewith (the “Increase Agreement”), which Increase Agreement, among other things, increases the Revolving Commitment to $450,000,000.00 and the Total Commitments to $700,000,000.00.

Notwithstanding anything to the contrary set forth in this [Section 2.6(B)], but without limiting the conditions set forth in [Section 2.6(B)(iii)] or [Section 3.5], the Administrative Agent and the Lenders agree to a Revolving Advance Commitment Increase of $245,000,000 on May 29, 2020, as reflected within the revised Commitments set forth on Exhibit E hereto. For the avoidance of doubt, the agreement to effect a Revolving Advance Commitment Increase pursuant to the preceding sentence shall prohibit the Borrower from requesting additional Revolving Advance Commitment Increases pursuant to [Section 2.6(B)(i)].

At any time during the Commitment Increase Period, the Borrower may request that the Administrative Agent increase the Total Commitment Amount by increasing the Maximum Revolving Amount; provided that the aggregate amount of all such increases made pursuant to this [Section 2.9(b)] shall not exceed Four Hundred Million Dollars ($400,000,000), the entire amount of which is available as of the Sixth Amendment Effective Date. Each such request for an increase shall be in an amount of at least Ten Million Dollars ($10,000,000), and may be made by either # increasing, for one or more Lenders, with their prior written consent, their respective Revolving Credit Commitments, or # including one or more Additional Lenders, each with a new commitment under the Revolving Credit Commitment, as a party to this Agreement (each an “Additional Commitment” and, collectively, the “Additional Commitments”).

At any time during the Commitment Increase Period, the Borrower may request that the Administrative Agent increase the Total Commitment Amount by increasing the Maximum Revolving Amount; provided that the aggregate amount of all such increases made pursuant to this [Section 2.9(b)] shall not exceed Four Hundred Million Dollars ($400,000,000), the entire amount of which is available as of the Sixth Amendment Effective Date. Each such request for an increase shall be in an amount of at least Ten Million Dollars ($10,000,000), and may be made by either # increasing, for one or more Lenders, with their prior written consent, their respective Revolving Credit Commitments, or # including one or more Additional Lenders, each with a new commitment under the Revolving Credit Commitment, as a party to this Agreement (each an “Additional Commitment” and, collectively, the “Additional Commitments”).

Borrower, Guarantor, Pledgors, Administrative Agent, and the Lenders wish to modify certain terms and provisions of the Loan Documents as set forth or required herein for the purposes of, among other things, providing for an additional $75,000,000.00 increase in the amount by which the Revolving Commitments can be increased pursuant to [Section 2.23] of the Credit Agreement. The Administrative Agent and Lenders are willing to agree to such modifications subject to the satisfaction of certain conditions precedent as set forth herein and subject to Borrower, Guarantor, and Pledgors making the representations and assurances hereinafter set forth.

The Borrower has requested that the Revolving Commitments under the Credit Agreement be increased by $100,000,000 such that the aggregate Revolving Commitment effective as of the Incremental Effective Date is $350,000,000 (the “Revolving Increase”). Subject to the terms and conditions set forth herein, the Increasing Commitment Lenders have agreed to provide such Revolving Increase.

At any time during the Commitment Increase Period, the Borrower may request that the Administrative Agent increase the Total Commitment Amount by increasing the Maximum Revolving Amount; provided that the aggregate amount of all such increases made pursuant to this [Section 2.9(b)] shall not exceed One Hundred Fifty Million Dollars ($150,000,000). Each such request for an increase shall be in an amount of at least Ten Million Dollars ($10,000,000), and may be made by either # increasing, for one or more Lenders, with their prior written consent, their respective Revolving Credit Commitments, or # including one or more Additional Lenders, each with a new commitment under the Revolving Credit Commitment, as a party to this Agreement (each an “Additional Commitment” and, collectively, the “Additional Commitments”).

The Borrower may at any time and from time to time prior to the Commitment Termination Date, by notice to the Administrative Agent, request that the aggregate amount of the Commitment be increased by an amount of $50,000,000 or $75,000,000 (or, if the first such increase is $50,000,000, the second increase may be $25,000,000) (each, a “Revolving Advance Commitment Increase”) to be effective on or before as specified in the related notice to the Administrative Agent (such date, the “Revolving Advance Commitment Increase Date”); provided, however, that # in no event shall the aggregate amount of all Revolving Advance Commitment Increases exceed $75,000,000 and # on the date of any request by the Borrower for a Revolving Advance Commitment Increase and on the related Revolving Advance Commitment Increase Date, the conditions set forth in [Section 3.5] shall be satisfied. Subject to the last sentence of clause (ii) below, the Borrower may simultaneously request one or more of the Committed Lenders to increase the amount of its Commitment and/or arrange for one or more banks or financial institutions not a party hereto to become parties to and Committed Lenders under this Agreement, pursuant to the terms and conditions set forth below.

Increase of Total Commitments. At any time and from time to time on or after the Effective Date, so long as no Default or Event of Default exists or would arise therefrom, the Borrowers shall have the right to request an increase of Total Commitments then outstanding by an aggregate amount not to exceed $25,000,000 for all such requests; provided that after giving effect to any increase in the Total Commitments, the Total Commitments shall in no event exceed $100,000,000. The Administrative Agent and the Borrowers shall determine the effective date of such increase and any such requested increase shall be first made available to all existing Lenders on a pro rata basis and, to the extent that, on or before the tenth (10th) day following such request for an increase hereunder, such Lenders decline to increase their Commitments (and any Lender who does not respond to a request for an increase in the Commitments requested by the Borrowers shall be deemed to decline such request), or decline to increase their Commitments to the amount requested by the Borrowers, the Borrowers may arrange (or request the Arranger to arrange) for other Eligible Assignees to become a Lender hereunder and to issue commitments in an amount equal to the amount of the increase in the Commitments requested by the Borrowers and not accepted by the existing Lenders (each such increase by either means, a “Commitment Increase,” and each Eligible Assignee issuing a, or any Lender increasing its, Commitment, an “Additional Commitment Lender”), provided, however, that # no Lender shall be obligated to provide a Commitment Increase, # any Additional Commitment Lender which is not an existing Lender shall be subject to the approval of the Administrative Agent, the Issuing Bank and each Borrower (which approval shall not be unreasonably withheld), and # without the consent of the Administrative Agent, at no time shall the Commitment of any Additional Commitment Lender under this Agreement be less than $10,000,000. Each Commitment Increase shall be in a minimum aggregate amount of at least $10,000,000 and in integral multiples of $5,000,000 in excess thereof. Any increase in the Total Commitments shall be made on the same terms (including, without limitation, interest terms, payment terms and maturity terms), and shall be subject to the same conditions as the Commitments of the existing Lenders.

and in the other Credit Documents shall be true and correct in all material respects on and as of the date of the Commitment Increase as if made on and as of such date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date). In the event that the Borrowers wish to increase the aggregate Revolving Loan Commitment at any time, the Borrowers shall notify the Administrative Agent in writing of the amount (the “Offered Increase Amount”) of such proposed increase (such notice, a “Revolving Loan Commitment Increase Notice”); provided, that the aggregate amount of any such increase in the Revolving Loan Commitment shall be at least $25,000,000. Each Revolving Loan Commitment Increase Notice shall specify which Lenders and/or other banks, financial institutions or other entities the Borrowers desire to participate in such Commitment Increase. The Borrowers or, if requested by the Borrowers, the Administrative Agent, will notify such Lenders and/or other banks, financial institutions or other entities of such offer.

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