Common use of Addition of Lenders and Increase in Commitment Amount Clause in Contracts

Addition of Lenders and Increase in Commitment Amount. It is agreed by the parties hereto that, at any time before the Maturity Date, one or more financial institutions selected by the Borrower and acceptable to the Administrative Agent, in the Administrative Agent’s reasonable discretion, may become a Lender under this Agreement, or any existing Lender may increase its Commitment, in each case in an amount approved by Borrower, in such financial institution’s or Lender’s sole discretion by executing and delivering to the Borrower and the Administrative Agent a certificate substantially in the form of Exhibit 2.9 hereto (a “Lender Certificate”). Upon receipt and agreement by the Borrower and the Administrative Agent of any such Lender Certificate, (a) the aggregate amount of the Commitments of the Lenders (including any Person that becomes a Lender by delivery of such a Lender Certificate) automatically without further action by the Borrower, the Administrative Agent or any Lender shall be increased by the amount indicated in such Lender Certificate (but not in excess of $200,000,000 in the aggregate for all such increases in the Commitments pursuant to this Section 2.9) on the effective date set forth in such Lender Certificate (such increased amount herein the “Increased Commitment Amount”), (b) Schedule II attached hereto shall be amended to add such Commitment of such additional Lender or to reflect the increase in the Commitment of an existing Lender and the Percentages of the Lenders shall be adjusted accordingly to reflect the additional Lender or in the increase in the Commitment of an existing Lender, and (c) any such additional Lender shall be deemed to be a party in all respect to this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Noble Energy Inc)

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Addition of Lenders and Increase in Commitment Amount. It is agreed by the parties hereto that, at any time before the Maturity Revolving Commitment Termination Date, one or more financial institutions selected by the Borrower and acceptable to the Administrative Agent, in the Administrative Agent’s reasonable discretion, may become a Lender under this Agreement, or any existing Lender may increase its Commitment, in each case in an amount approved by Borrower, in such financial institution’s or Lender’s sole discretion by executing and delivering to the Borrower and the Administrative Agent a certificate substantially in the form of Exhibit 2.9 hereto (a “Lender Certificate”). Upon receipt and agreement by the Borrower and the Administrative Agent of any such Lender Certificate, (a) the aggregate amount of the Commitments of the Lenders (including any Person that becomes a Lender by delivery of such a Lender Certificate) automatically without further action by the Borrower, the Administrative Agent or any Lender shall be increased by the amount indicated in such Lender Certificate (but not in excess of $200,000,000 100,000,000 in the aggregate for all such increases in the Commitments pursuant to this Section 2.9) on the effective date set forth in such Lender Certificate (such increased amount herein the “Increased Commitment Amount”), (b) Schedule II attached hereto shall be amended to add such Revolving Commitment of such additional Lender or to reflect the increase in the Revolving Commitment of an existing Lender and the Percentages of the Lenders shall be adjusted accordingly to reflect the additional Lender or in the increase in the Revolving Commitment of an existing Lender, and (c) any such additional Lender shall be deemed to be a party in all respect to this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Noble Energy Inc)

Addition of Lenders and Increase in Commitment Amount. It is agreed by the parties hereto that, at any time before the Stated Maturity Date, one or more financial institutions selected by the Borrower and acceptable to the Administrative Agent, in the Administrative Agent’s reasonable discretion, may become a Lender under this Agreement, or any existing Lender may increase its Commitment, in each case in an amount approved by Borrower, in such financial institution’s or Lender’s sole discretion by executing and delivering to the Borrower and the Administrative Agent (i) a certificate substantially in the form of Exhibit 2.9 F hereto (a “Lender Certificate”)) and (ii) an Administrative Questionnaire. Upon receipt and agreement by the Borrower and the Administrative Agent of any such Lender Certificate, (a) the aggregate amount of the Commitments of the Lenders (including any Person that becomes a Lender by delivery of such a Lender Certificate) and the Commitment Amount automatically without further action by the Borrower, the Administrative Agent or any Lender shall be increased by the amount indicated in such Lender Certificate (but not in excess of $200,000,000 250,000,000 in the aggregate at any time for all such increases in the Commitments pursuant to this Section 2.92.10) on the effective date set forth in such Lender Certificate (such increased amount herein the “Increased Commitment Amount”), (b) Schedule II the signature pages of the Lenders attached hereto shall be amended to add such Commitment of such additional Lender or to reflect the increase in the Commitment of an existing Lender and the Percentages of the Lenders shall be adjusted accordingly to reflect the additional Lender or in the increase in the Commitment of an existing Lender, and (c) any such additional Lender shall be deemed to be a party in all respect to this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Pogo Producing Co)

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Addition of Lenders and Increase in Commitment Amount. It is agreed by the parties hereto that, at any time before the Stated Maturity Date, one or more financial institutions selected by the Borrower and acceptable to the Administrative Agent, in the Administrative Agent’s 's reasonable discretion, may become a Lender under this Agreement, or any existing Lender may increase its CommitmentCommitment Amount, in each case in an amount approved requested by Borrower, in such financial institution’s 's or Lender’s 's sole discretion by executing and delivering to the Borrower and the Administrative Agent (i) a certificate substantially in the form of Exhibit 2.9 E hereto (a "Lender Certificate”)") and (ii) an Administrative Questionnaire. Upon receipt and agreement by the Borrower and the Administrative Agent of any such Lender Certificate, (a) the aggregate amount of the Commitments of Loan Amount and the Lenders (including any Person that becomes a Lender by delivery of such a Lender Certificate) Commitment Amount automatically without further action by the Borrower, the Administrative Agent or any Lender shall be increased by the amount indicated in such Lender Certificate (but not in excess of $200,000,000 in so long as the aggregate for of all such increases in the Commitments pursuant to this Section 2.9does not exceed $100,000,000) on the effective date set forth in such Lender Certificate (such increased amount herein the “Increased Commitment Amount”)Certificate, (b) Schedule II I attached hereto shall be amended to add such Commitment of such additional Lender or to reflect the increase in the Commitment of an existing Lender and the Percentages Percentage Shares of the Lenders shall be adjusted accordingly to reflect the additional Lender or in the increase in the Commitment of an existing Lenderaccordingly, and (c) any such additional Lender shall be deemed to be a party in all respect to this Agreement and the other Loan DocumentsDocuments and shall be entitled to all rights and benefits of a Lender hereunder and thereunder and subject to all obligations of a Lender hereunder and thereunder. As a condition precedent to such increase in the Commitment Amount, the Borrower shall deliver to the Administrative Agent a certificate dated as of the effective date of such increase (in sufficient copies for each Lender) signed by an officer of the Borrower (i) certifying to and attaching the resolutions previously adopted by the Borrower approving or consenting to such increase, (ii) including a Compliance Certificate demonstrating pro forma compliance with Section 7.15 after giving effect to such increase, and (iii) certifying that, before and after giving effect to such increase, the representations and warranties contained in Article VI are true and correct on and as of such Date and no Default exists. The Borrower shall execute and deliver replacement Notes in accordance with Section 2.12 reflecting such Lender's Commitment Amount, which Notes shall be dated as of the date of this Agreement and shall otherwise comply with the provisions of Section 2.12.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Gas Resources, Inc.)

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