Example ContractsClausesIncrease in Commitment
Increase in Commitment
Increase in Commitment contract clause examples

Increase in Aggregate Commitment. (i) The Company may at any time propose that the Aggregate Commitment be increased (the amount of such increase being a “Commitment Increase”), effective as at a date prior to the Termination Date and at least 15 days after the Company proposes any such increase to the Agent in writing (an “Increase Date”) as to which agreement is to be reached by an earlier date specified in such notice (a “Commitment Date”); provided, however, that # the Company may not propose more than two Commitment Increases in any calendar year, # the Company may not propose more than five Commitment Increases pursuant to this Agreement, # the minimum proposed Commitment Increase per notice shall be $10,000,000, # in no event shall the Aggregate Commitment hereunder at any time exceed $4,500,000,000, and # no Default or Unmatured Default shall have occurred and be continuing on such Increase Date. The Agent shall notify [[Organization B:Organization]] thereof promptly upon its receipt of any such notice. The Agent agrees that it will cooperate with the Company in discussions with [[Organization B:Organization]] and other lending institutions with a view to arranging the proposed Commitment Increase through the increase of the Commitments of one or more of [[Organization B:Organization]] (each such Lender that is willing to increase its Commitment hereunder being an “Increasing Lender”) and/or through Commitments provided by one or more Assuming [[Organization B:Organization]]; provided, however, that it shall be in each Lender’s sole discretion whether to increase its Commitment hereunder in connection with the proposed Commitment Increase; and provided further that the minimum Commitment of each Assuming Lender that becomes a party to this Agreement pursuant to this [Section 2.6(c)] shall be at least equal to $10,000,000. If agreement is reached on or prior to the applicable Commitment Date with any Increasing [[Organization B:Organization]] and Assuming [[Organization B:Organization]] as to a Commitment Increase (which may be less than but not greater than specified in the applicable notice from the Company), such agreement to be evidenced by a notice in reasonable detail from the Company to the Agent on or prior to the applicable Commitment Date, such Assuming [[Organization B:Organization]], if any, shall become [[Organization B:Organization]] hereunder as of the applicable Increase Date and the Commitments of such Increasing [[Organization B:Organization]] and such Assuming [[Organization B:Organization]] shall become or be, as the case may be, as of the Increase Date, the amounts specified in such notice; provided that:

Increase of Aggregate Commitment. The Company at its option may, from time to time, seek to # request one or more term loans (each an “Incremental Term Loan” and, collectively, the “Incremental Term Loans”) and/or # increase the Aggregate Revolving Commitment (each such increase, an “Incremental Revolving Commitment” and, together with the Incremental Term Loans, the “Incremental Facilities”) by up to an aggregate amount of $500,000,000for all Incremental Facilities after the Second Amendment Effective Date of $300,000,000 upon at least three (3) Business Days’ prior written notice to the Administrative Agent, which notice shall specify the amount of any such Incremental Facility (which shall not be less than $25,000,000) and shall certify that no Default or Unmatured Default has occurred and is continuing. After delivery of such notice, the Company, in consultation with the Administrative Agent, may offer the Incremental Facility (which may be declined by any Lender in its sole discretion) on either

Increase of Maximum Aggregate Commitment. [Section 2.7] is added following [Section 2.6] of the Repurchase Agreement and shall read as follows:

Effectiveness of Commitment Increase by Borrower. Each Assuming Lender, if any, shall become a Lender hereunder as of such Commitment Increase Date and the Commitment of the respective Class of any Increasing Lender and such Assuming Lender shall be increased as of such Commitment Increase Date; provided that:

Commitment. The Sponsor hereby commits to purchase equity securities of Holdco at or prior to the Effective Time for an aggregate amount of RMB equivalent to US$20,000,000 (and the RMB equivalents of U.S. dollars shall be determined using the prevailing exchange rate notified by Parent to the Sponsor at least three (3) Business Days prior to funding), on the terms and subject to the conditions specified herein, which commitment, together with the commitments by the Other Sponsors under the Other Commitment Letters, is to be used by Holdco and/or Parent solely for the purpose of # funding a portion of the Merger Consideration required to be paid by Parent to consummate the Transactions pursuant to and in accordance with the Merger Agreement and # payment of a portion of the fees and expenses in connection with the Transaction (such commitment, the “Commitment”). The Sponsor will not have any obligation under any circumstances to contribute, directly or indirectly, any capital or money that would be more than the amount of the Commitment to Holdco, Parent, Merger Sub or any other person pursuant to the terms of this Agreement. In the event that Holdco and/or Parent does not require an amount equal to the sum of the Commitment plus the amount of the equity commitments of the Other Sponsors under the Other Commitment Letters in order to consummate the Merger, the amount of the Commitment to be funded under this Agreement and the amount of the equity commitment of each Other Sponsor to be funded under its respective Other Commitment Letter shall be reduced by Holdco on a pro rata basis, to the amount that would be sufficient, in combination with the other financing

Increase to 2019 Aggregate Revolving Loan Commitment. Pursuant to [Section 2.23] of the Credit Agreement, the Company has requested an increase in the Aggregate 2019 Revolving Loan Commitment from $458,681,553.11 to $465,332,038.55, upon the effectiveness hereof. In connection with such requested Commitment Increase, the Company, the Administrative Agent and BNP Paribas (the “Accepting Lender”) hereby agree that upon the effectiveness hereof, the 2019 Revolving Loan Commitment of the Accepting Lender under the Credit Agreement shall be increased from $43,349,514.56 to $50,000,000. The Required Lenders hereby agree to waive the minimum amount and multiples requirements set forth in [Section 2.23(B)] of the Credit Agreement, and also agree that this Amendment shall be delivered in substitution for any Increase Notice and Commitment and Acceptance required by [Section 2.23] of the Credit Agreement (after giving effect to this Amendment).

Additional Term Loan. A Loan made on any Commitment Increase Date by a Lender pursuant to such Lender’s Additional Term Commitment as of such Commitment Increase Date.

no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase; and

As conditions precedent to any Revolving Credit Commitment Increase, Term Commitment Increase or addition of a New Term Facility pursuant to this Section 2.14:

the Aggregate Revolving Commitment shall be increased by the amount of such Incremental Revolving Commitment Increase, in each case, subject to further increase or reduction from time to time as set forth in the definition of the term “Revolving Commitment”. For the avoidance of doubt, upon the effectiveness of any Incremental Revolving Commitment Increase, the Revolving Exposure of the Revolving Lender making such Incremental Revolving Commitment Increase, and the Applicable Percentage of all the Revolving [[Organization A:Organization]], shall automatically be adjusted to give effect thereto.

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