Addition of Lenders. With the prior written consent of the Administrative Agent in its sole discretion, at the request of one or more Borrowers, a new lender may join the Credit Facility as a Lender by delivering a Lender Joinder Agreement to the Administrative Agent, and such new Lender shall assume all rights and obligations of a Lender under this Credit Agreement and the other Loan Documents; provided that:
(i) the Commitment of the new Lender shall be in addition to the Commitment of the existing Lenders in effect on the date of such new Lender’s entry into the Credit Facility and the Maximum Commitment shall be increased in a corresponding amount;
(ii) the Commitment of the new Lender shall be in a minimum amount of $10,000,000, or such lesser amount agreed to by the applicable Borrowers and the Administrative Agent;
(iii) [reserved]; and
(iv) the parties shall execute and deliver to the Administrative Agent a Lender Joinder Agreement, any amendment hereto determined necessary or appropriate by the Administrative Agent in connection with such Lender Joinder Agreement, the applicable Borrowers shall execute such new Notes as the Administrative Agent or any Lender may request, and the new Lender shall deliver payment of a processing and recordation fee of $3,500 to the Administrative Agent, which amount the Administrative Agent may waive in its sole discretion.
Addition of Lenders. The Borrower may, with written notice to the Administrative Agent and each Lender, add additional Persons as Lenders or cause an existing Lender to increase its Commitment; provided, however, that the Commitment of any existing Lender may only be increased with the prior written consent of such Lender. Each new Lender shall become a party hereto, by executing and delivering to the Administrative Agent and the Borrower, an assumption agreement (each, an “Assumption Agreement”) in the form of Exhibit D hereto.
Addition of Lenders. In accordance with Section 2.14, at the request of the Borrowers, a new lender may join the Credit Facility as a Lender by delivering a Lender Joinder Agreement to the Administrative Agent, and such new Lender shall assume all rights and obligations of a Lender under this Credit Agreement and the other Loan Documents; provided that:
(i) the Commitment of the new Lender shall be in addition to the Commitment of the existing Lenders in effect on the date of such new Lender’s entry into the Credit Facility and the Maximum Commitment shall be increased in a corresponding amount in accordance with Section 2.14; and
(ii) the parties shall execute and deliver to the Administrative Agent a Lender Joinder Agreement, the Borrowers shall execute such new Notes as the Administrative Agent or any Lender may request, and the new Lender shall deliver payment of a processing and recordation fee of $3,500 to the Administrative Agent, which amount the Administrative Agent may waive in its sole discretion.
Addition of Lenders. With the prior written consent of the Administrative Agent in its sole discretion, at the request of the Borrowers, a new lender may join the Credit Facility as a Lender by delivering a Lender Joinder Agreement to the Administrative Agent, and such new Lender shall assume all rights and obligations of a Lender under this Credit Agreement and the other Loan Documents; provided that:
(i) the Commitment of the new Lender shall be in addition to the Commitment of the existing Lenders in effect on the date of such new Lender’s entry into the Credit Facility and the Maximum Commitment shall be increased in a corresponding amount;
(ii) the Commitment of the new Lender shall be in a minimum amount of $5,000,000, or such lesser amount agreed to by the Administrative Agent; and
(iii) the parties shall execute and deliver to the Administrative Agent a Lender Joinder Agreement, any amendment hereto determined necessary or appropriate by the Administrative Agent in connection with such Lender Joinder Agreement and the Borrowers shall execute such new Notes as the Administrative Agent or any Lender may request.
Addition of Lenders. Subject to Section 2.6 hereof, at the request of the Borrower, a new lender may join this Agreement as a Lender by delivering a joinder agreement to Borrower, and such new Lender shall assume all rights and obligations of a Lender under this Agreement and the other Loan Documents; provided that:
(a) the Commitment of the new Lender shall be in addition to the Commitments of the existing Lenders in effect on the date of such new Lender’s joinder and the Aggregate Commitment shall be increased in a corresponding amount;
(b) Borrower shall execute such new Notes as Agent or the new Lender may reasonably request; and
(c) the outstanding Loans shall be reallocated in accordance with Section 2.6(f)(ii) hereof.
Addition of Lenders. From time to time upon written request of the Trust addressed to the Liquidity Agent, the Trust may request that one or more bank(s) or other financial institution(s) having a long term unsecured debt rating of AA (low) or higher or a short term unsecured debt rating of R-1 (middle) or higher (or the equivalent ratings) by the Rating Agency be added as parties to this agreement with the (respective) Lender's Commitment(s) specified in the request. If such bank(s) or other financial institution(s) are acceptable to each of the Trust, the Liquidity Agent and the Rating Agency, this agreement will be amended to add such bank(s) or other financial institution(s) as Lender(s) with the (respective) Lender's Commitment(s) as may be agreed. Each additional Lender shall have the same rights and obligations had it been an original signatory to this agreement (except with respect to standby fees which may be different for different Lenders as specified in the agreements entered into between the Trust and the Liquidity Agent as specified in Section 5.1). For greater certainty, should the Liquidity Agent be holding any Notes for the benefit of the Lenders which have been purchased under this agreement at the time such bank(s) or other financial institution(s) becomes (or become) a Lender(s) under this agreement, the Liquidity Agent shall hold such Notes for the benefit of all the Lenders, including the additional Lender(s), pro rata (based on the respective Lender's Commitments after the addition of such bank(s) or other financial institution(s)). In such event, the additional Lender(s) shall pay to the Liquidity Agent, for distribution to the other Lenders pro rata (based on the respective Lender's Commitments of such other Lenders after the addition of such bank(s) or other financial institution(s)), an amount equal to the pro rata share (determined as provided above) of the additional Lender(s) in such Notes. The addition of bank(s) or other financial institution(s) shall become effective when the additional bank(s) or other financial institution(s) execute an agreement in a form satisfactory to the Trust and the Liquidity Agent agreeing to be bound by the terms of this agreement. Effective upon the date of such agreement, Schedule 1 hereto shall be amended to reflect the additional Lender(s) and the Lender's Commitment of each additional Lender, and the Liquidity Agent shall amend its books of account accordingly.
Addition of Lenders. Subject to Section 2.6 hereof, at the request of the Borrower, a new lender may join this Agreement as a Lender by delivering a lender joinder agreement to Borrower in substantially the form of Exhibit G, and such new Lender shall assume all rights and obligations of a Lender under this Agreement and the other Loan Documents; provided that:
(i) the Commitment of the new Lender shall be in addition to the Commitments of the existing Lenders in effect on the date of such new Lender’s joinder and the Aggregate Commitment shall be increased in a corresponding amount;
(j) Borrower shall execute such new Notes as Agent or the new Lender may reasonably request; and
(k) the outstanding Loans shall be reallocated in accordance with Section 2.6(f)(ii) hereof.
Addition of Lenders. If the Borrowers shall request an increase in the Commitment Amount and all of the existing Lenders approve the increase of the Commitment Amount but do not want to commit for such increase for their own accounts, then, with the approval of all Lenders, new Lenders may be admitted under this Agreement. The aggregate amount of the Commitments of such new Lenders shall not exceed the lesser of (a) the addition to the Commitment Amount, or (b) the portion of the addition to the Commitment Amount that the existing Lenders do not want to take for their own accounts. At the time when any such new Lenders are added, each existing Lender shall assign to the Lenders a portion of its outstanding Advances that shall result in the new Lender's having a portion of the outstanding Advances that is the same as its Pro Rata Percentage of the Commitment Amount, as increased.
Addition of Lenders. (a) By execution hereof, ING, as of the Second Amendment Effective Date, shall become a Lender under the LC Agreement, as amended through the Second Amendment Effective Date, with a Tranche A Commitment and a Tranche B Commitment as set forth on Schedule 2.1 attached to this Amendment and from and after the Second Amendment Effective Date shall have all the rights and obligations of a Lender thereunder provided, however ING shall not be obligated to Issue Letters of Credit.
(i) As of the Second Amendment Effective Date, the Letters of Credit set forth on Exhibit A to this Amendment have been issued pursuant to the LC Agreement. Each Letter of Credit listed in Part I of Exhibit A (the "Fronted Letters of Credit") has been issued by the Fronting Bank and each Existing Lender has purchased a Risk Participation therein in accordance with their respective Percentages. Each Letter of Credit listed in Part II of Exhibit A (the "Several Letters of Credit") has been issued by the LC Administrator on behalf of the Existing Lenders who have several liability under such existing Letters of Credit in accordance with their respective Percentages.
(ii) On the Second Amendment Effective Date, each Existing Lender shall be deemed to have sold and transferred to ING, and ING shall be deemed irrevocably and unconditionally to have purchased and received from each Existing Lender, without recourse or warranty, an undivided interest in each Existing Lender's Risk Participation in each Fronted Letter of Credit and the Borrower's reimbursement obligations with respect thereto in an amount such that, after giving effect to such purchase, the Risk Participation of each Lender in the Fronted Letters of Credit and the Borrower's reimbursement obligations with respect thereto shall be equal to such Lender's Percentage as set forth on Schedule 2.1 to this Amendment.
(iii) On the Second Amendment Effective Date, each Existing Lender shall be deemed to have sold and transferred to the Fronting Bank, and the Fronting Bank shall be deemed irrevocably and unconditionally to have purchased and received from each Existing Lender, without recourse or warranty, an undivided interest and participation in each Several Letter of Credit and the Borrower's reimbursement obligations with respect thereto in amount such that, after giving effect to such purchase the obligation of the Fronting Bank in each Several Letter of Credit shall be equal to the sum of its Percentage plus ING's Percentage and th...
Addition of Lenders. (i) As of the Amendment No. 1 Effective Date (as such term is defined below), each Lender party to this Agreement who was not a party to the Financing Agreement on the Effective Date (each a “New Lender”) shall be a party to the Financing Agreement and have the rights and obligations of a Lender under the Financing Agreement.
(ii) Each New Lender (i) confirms that it has received copies of the Financing Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon the Agent or any other Lender, based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents; (iii) appoints and authorizes the Agent to take such action on its behalf and to exercise such powers under the Loan Documents as are delegated to the Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.
