Addition of New Banks. Each of the New Banks (i) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements referred to in Section 4.05 and 5.01 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Bank and 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 Credit Agreement or any other Credit Document; (iii) appoints and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers as it deems necessary under the Credit Agreement and any other Credit Document as are delegated to the Administrative Agent or the Collateral Agent by the terms thereof, together with such powers as are reasonably incidental thereto; (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement or any other Credit Document are required to be performed by it as a Bank; and (v) specifies as its Domestic Lending Office (and address for notices) the office set forth beneath its name on Schedule 2 hereto.
Addition of New Banks. Subject to the conditions set forth in Section 6 hereof, upon and after the Effective Date (defined below), each of the New Banks hereby becomes a party, as a Bank, to the Loan Agreement with Commitments as stated in the amended Schedule 1.1(b) to the Loan Agreement attached hereto as Exhibit A, and the parties hereto, other than the New Banks, each acknowledge and consent to such actions by the New Banks. Upon and after the Effective Date, the New Banks shall each be a Bank under the Loan Agreement and the other Loan Documents to which the Banks are parties and shall have all of the rights, privileges and benefits of a Bank under the Loan Agreement and the other Loan Documents, and all of the duties of a Bank thereunder, in each case as if such New Bank had been initially a party to the Loan Agreement. Upon the Effective Date (defined below), the New Banks shall make Advances as calculated by the Agent so that their outstanding Advances are equal to their ratable shares of all Advances outstanding on such date and the Agent shall distribute the proceeds of such Advances to the existing Banks as applicable in accordance with their ratable share of all Advances outstanding on the Effective Date, in each case after giving effect to this Amendment, but prior to any additional Advances requested by the Borrowers to be made (if any) on the Effective Date.
Addition of New Banks. Upon the satisfaction of the conditions precedent set forth in Section 5 hereof, the Credit Agreement shall be and hereby is amended as follows:
Addition of New Banks. Each New Bank (i) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements requested by such New Bank 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) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Credit Documents as are delegated to the Agent by the terms thereof, together with such powers as are reasonably incidental thereto, (iii) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Bank, (iv) agrees that its payment instructions and notice instructions are as set forth in an Administrative Questionnaire previously delivered to the Agent, and (v) if applicable, attaches the forms prescribed by the Internal Revenue Service of the United States certifying that such New Bank is entitled to receive payments under the Credit Documents without deduction or withholding of any United States federal income taxes.
Addition of New Banks. Conversion of Original Loans of Continuing Banks; Termination of Commitments of Non-Continuing Banks; Resignation of Existing Agents.........155 13.20 Registry ....................................................156 ANNEX A New Banks SCHEDULE I Commitments SCHEDULE II Existing Letters of Credit SCHEDULE III Real Property SCHEDULE IV Taxes SCHEDULE V Subsidiaries SCHEDULE VI Existing Indebtedness SCHEDULE VII Insurance SCHEDULE VIII Existing Liens SCHEDULE IX Bank Addresses SCHEDULE X Restrictions on Subsidiaries EXHIBIT A Notice of Borrowing EXHIBIT B-1 Revolving Note EXHIBIT B-2 Swingline Note EXHIBIT C Letter of Credit Request EXHIBIT D Section 4.04(b)(ii) Certificate EXHIBIT E-1 Opinion of Xxxxxxxx & Xxxxxxxx EXHIBIT E-2 Opinion of General Counsel to the Company EXHIBIT F Officers' Certificate EXHIBIT G Solvency Certificate EXHIBIT H Assignment and Assumption Agreement EXHIBIT I Flash Report EXHIBIT J Budget EXHIBIT K Outstanding Letters of Credit EXHIBIT L Subordination Provisions EXHIBIT M Subsidiaries Guaranty EXHIBIT N Company Pledge Agreement EXHIBIT O Subsidiaries Pledge Agreement EXHIBIT P Company Security Agreement EXHIBIT Q Subsidiaries Security Agreement CREDIT AGREEMENT, dated as of March 24, 1992, amended and restated as of January 11, 1994 and further amended and restated as of December 18, 1996, among COLTEC INDUSTRIES INC, a corporation organized and existing under the laws of the State of Pennsylvania (the "Company"), the various Banks from time to time party hereto, BANK OF AMERICA ILLINOIS, as Documentation Agent, THE CHASE MANHATTAN BANK, as Syndication Agent, and BANKERS TRUST COMPANY, as Administrative Agent (all capitalized terms used herein and defined in Section 11 are used herein as therein defined).
Addition of New Banks. Conversion of Existing Revolving Loans of Continuing Banks; Termination of Commitments of Non-Continuing Banks. (a) On and as of the occurrence of the Restatement Effective Date in accordance with Section 11.10, each New Bank shall become a "Bank" under, and for all purposes of, this Agreement and the other Credit Documents.
Addition of New Banks. Conversion of Original Loans of Continuing Banks; Termination of Commitments of Non-
Addition of New Banks. Conversion of Existing Loans of Continuing Banks; Termination of Commitments of Non-Continuing Banks . . . . . . . . . . . . . . . . . . . . . . 84 SECTION 13. Guaranty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
Addition of New Banks. Each of the New Banks hereby joins the Credit Agreement and each of the other Loan Documents as to which the Banks are a party as a Bank with a Commitment in the amount set forth on Schedule 1.1(B) and with an address for notices as set forth on such Schedule 1.1(B). Each New Bank shall have all the rights and obligations of a Bank under the Credit Agreement and other Loan Documents on and after the effective date of this Amendment.
Addition of New Banks. (a) Upon the effectiveness of this First Amendment, each of the New Banks shall (i) be a party to the Credit Agreement; (ii) assume all of the rights and obligations of a Bank under the Credit Agreement with a Commitment in the amount set forth opposite such Bank's name in Schedule 2.01 attached hereto; and (iii) be secured by the Collateral. The Commitments of the New Banks and the revised Commitments of the existing Banks will be effective as of November 25, 1998 (the "New Commitment Effective Date"). As of the date of this First Amendment, there are three outstanding Borrowings of LIBOR Rate Loans (the "Outstanding Loans"). It is the intention of the parties that on the New Commitment Effective Date the New Banks shall purchase assignments in each of the Outstanding Loans in an amount equal to each such Bank's respective Pro Rata Share. The interest rate payable by the Company on the Outstanding Loans shall remain unchanged; however, the interest rate distributable to the New Banks on their portion of the New Loans shall be equal to the LIBOR Rate for an Interest Period of three months, determined as of November 23, 1998, plus the Applicable Margin for LIBOR Rate Loans. On the New Commitment Effective Date, each New Bank shall pay to the Agent (for delivery to BofA and First Union) its Pro Rata Share of the aggregate principal amount of the Outstanding Loans. The obligation of each New Bank to so provide its purchase price to the Agent shall be absolute and unconditional and shall not be affected by the occurrence of a Default or Event of Default. Each New Bank that has provided to the Agent the purchase price due for its assignment in such Loans shall thereupon acquire a pro rata participation, to the extent of such payment, in the claim of BofA and First Union against the Company for principal and shall share, in accordance with its Pro Rata Share, in any principal payment made by the Company with respect to such claim.
