Common use of Additional Borrowing Subsidiaries Clause in Contracts

Additional Borrowing Subsidiaries. Upon the request by the Parent and approval by the Administrative Agent, any Subsidiary of the Parent may, on the terms and conditions below, become a Borrowing Subsidiary hereunder provided that such Borrowing Subsidiary shall execute and deliver to the Administrative Agent a Joinder Agreement, together with such evidence of corporate authority to enter into such Joinder Agreement as the Administrative Agent may reasonably request, including without limitation, opinions of legal counsel regarding such corporate authority and the enforceability of such Joinder Agreement and such other documents, governmental certificates, agreement as the Administrative Agent may reasonably request, including without limitation, information requested in order for the Administrative Agent or any Lender to comply with the Patriot Act. Upon receipt of such a request from the Parent, the Administrative Agent shall promptly notify the Lenders. If, within five (5) Business Days of delivery of such notice by the Administrative Agent, any Lender (a "Protesting Lender") shall notify the Parent and the Administrative Agent that it may not legally lend to, establish credit for the account of and/or do business with such applicant Borrowing Subsidiary, then the Parent shall, within five (5) Business Days of delivery of such notice by such Protesting Lender, either (A) notify the Administrative Agent and such Protesting Lender that it shall replace such Protesting Lender pursuant to Section 2.25 (and such applicant Borrowing Subsidiary shall not have the right to borrow or request Facility LCs hereunder until such replacement is consummated) or (B) cancel its request to designate such Subsidiary as a Borrowing Subsidiary hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp)

AutoNDA by SimpleDocs

Additional Borrowing Subsidiaries. Upon the request by the Parent and approval by the Administrative Agent, any Restricted Subsidiary of the Parent may, on the terms and conditions below, become a Borrowing Subsidiary hereunder provided that such Borrowing Subsidiary shall execute and deliver to the Administrative Agent a Joinder AgreementAgreement with the other Borrowing Subsidiaries, together with such evidence of corporate authority to enter into such Joinder Agreement as the Administrative Agent may reasonably request, including without limitation, opinions of legal counsel regarding such corporate authority and the enforceability of such Joinder Agreement and such other documents, governmental certificates, agreement certificates and agreements as the Administrative Agent may reasonably request, including without limitation, information requested in order for the Administrative Agent or any Lender to comply with the USA Patriot Act. Upon receipt of such a request from the Parent, the Administrative Agent shall promptly notify the Lenders. If, within five (5) Business Days of delivery of such notice by the Administrative Agent, any Lender (a "Protesting Lender") shall notify the Parent and the Administrative Agent that it may not legally lend to, establish credit for the account of and/or do business with such applicant Borrowing Subsidiary, then the Parent shall, within five (5) Business Days of delivery of such notice by such Protesting Lender, either (A) notify the Administrative Agent and such Protesting Lender that it shall replace such Protesting Lender pursuant to Section 2.25 (and such applicant Borrowing Subsidiary shall not have the right to borrow or request Facility LCs hereunder until such replacement is consummated) or (B) cancel its request to designate such Restricted Subsidiary as a Borrowing Subsidiary hereunder.

Appears in 1 contract

Samples: Credit Agreement (Cameron International Corp)

Additional Borrowing Subsidiaries. Upon the request by the Parent and approval by the Administrative Agent, any Restricted Subsidiary of the Parent may, on the terms and conditions below, become a Borrowing Subsidiary hereunder provided that such Borrowing Subsidiary shall execute and deliver to the Administrative Agent a Joinder Agreement, together with such evidence of corporate authority to enter into such Joinder Agreement as the Administrative Agent may reasonably request, including without limitation, opinions of legal counsel regarding such corporate authority and the enforceability of such Joinder Agreement and such other documents, governmental certificates, agreement as the Administrative Agent may reasonably request, including without limitation, information requested in order for the Administrative Agent or any Lender to comply with the Patriot Act. Upon receipt of such a request from the Parent, the Administrative Agent shall promptly notify the Lenders. If, within five (5) Business Days of delivery of such notice by the Administrative Agent, any Lender (a "Protesting Lender") shall notify the Parent and the Administrative Agent that it may not legally lend to, establish credit for the account of and/or do business with such applicant Borrowing Subsidiary, then the Parent shall, within five (5) Business Days of delivery of such notice by such Protesting Lender, either (A) notify the Administrative Agent and such Protesting Lender that it shall replace such Protesting Lender pursuant to Section 2.25 (and such applicant Borrowing Subsidiary shall not have the right to borrow or request Facility LCs hereunder until such replacement is consummated) or (B) cancel its request to designate such Restricted Subsidiary as a Borrowing Subsidiary hereunder.

Appears in 1 contract

Samples: Credit Agreement (Cameron International Corp)

AutoNDA by SimpleDocs

Additional Borrowing Subsidiaries. Upon the request by the Parent and approval by the Administrative Agent, any Restricted Subsidiary of the Parent may, on the terms and conditions below, become a Borrowing Subsidiary hereunder provided that such Borrowing Subsidiary shall execute and deliver to the Administrative Agent a Joinder AgreementAgreement with the other Borrowing Subsidiaries, together with such evidence of corporate authority to enter into such Joinder Agreement as the Administrative Agent may reasonably request, including without limitation, opinions of legal counsel regarding such corporate authority and the enforceability of such Joinder Agreement and such other documents, governmental certificates, agreement as the Administrative Agent may reasonably request, including without limitation, information requested in order for the Administrative Agent or any Lender to comply with the Patriot Act. Upon receipt of such a request from the Parent, the Administrative Agent shall promptly notify the Lenders. If, within five (5) Business Days of delivery of such notice by the Administrative Agent, any Lender (a "Protesting Lender") shall notify the Parent and the Administrative Agent that it may not legally lend to, establish credit for the account of and/or do business with such applicant Borrowing Restricted Subsidiary, then the Parent shall, within five (5) Business Days of delivery of such notice by such Protesting Lender, either (A) notify the Administrative Agent and such Protesting Lender that it shall replace such Protesting Lender pursuant to Section 2.25 (and such applicant Borrowing Subsidiary shall not have the right to borrow or request Facility LCs hereunder until such replacement is consummated) or (B) cancel its request to designate such Restricted Subsidiary as a Borrowing Subsidiary hereunder.

Appears in 1 contract

Samples: Credit Agreement (Cameron International Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.