Common use of Additional FCI Issuing Lenders Clause in Contracts

Additional FCI Issuing Lenders. Upon notice to the Administrative Agent and the Foreign Trade Facility Agent (which shall promptly notify the Lenders with Participation FCI Commitments with respect to any addition of a Participation FCI Issuing Lender), the Parent Borrower may designate additional FCI Issuing Lenders to (i) provide additional Bilateral FCI Issuing Commitments hereunder and/or designate existing Bilateral FCI Issuing Lenders to provide an increase to its existing Bilateral FCI Issuing Commitment hereunder and/or (ii) provide additional Participation FCI Issuing Commitments hereunder and/or designate existing Participation FCI Issuing Lenders to provide an increase to its existing Participation FCI Issuing Commitment hereunder. No Person shall have any obligation hereunder to become such an additional FCI Issuing Lender or to provide any such additional or increased Bilateral FCI Issuing Commitment or Participation FCI Issuing Commitment. The FCI Issuing Lender or other Person that in its sole discretion agrees to provide any such increased or additional Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment shall enter into an FCI Issuing Lender Joinder Agreement with completions reasonably acceptable to the Administrative Agent, the Foreign Trade Facility Agent and the Parent Borrower. No such designation shall be made to (i) the Parent Borrower or the Parent Borrower’s Affiliates or Subsidiaries or (ii) a natural person. Upon consummation of any such FCI Issuing Lender Joinder Agreement, Schedule 1.1A shall be deemed revised to reflect the applicable Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment added pursuant to such FCI Issuing Lender Joinder Agreement. If all the conditions precedent to issuance of a new FCI are satisfied, then in lieu of issuing a new FCI, such additional Bilateral FCI Issuing Lender or Participation FCI Issuing Lender may, at the written request of the Parent Borrower or the applicable Foreign Subsidiary Borrower and with the written consent of the Foreign Trade Facility Agent, roll into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, an outstanding undertaking that meets all of the requirements to be an FCI hereunder, in which case such undertaking shall thereafter be treated as if it were issued hereunder, and such Bilateral FCI Issuing Lender or Participation FCI Issuing Lender, as applicable, shall be deemed to represent and warrant that each such FCI that is rolled into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, complies with Section 2.6(c), Section 2.6(d), Section 2.6(e) and Section 2.6(f), as applicable.

Appears in 3 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

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Additional FCI Issuing Lenders. Upon notice to each of the Administrative Agent and the Foreign Trade Facility Agent (which shall promptly notify the Lenders with Participation FCI Commitments with respect to any addition of a Participation FCI Issuing Lender)Agent, the Parent Borrower may designate additional FCI Issuing Lenders to (i) provide additional Bilateral FCI Issuing Commitments hereunder and/or designate existing Bilateral FCI Issuing Lenders to provide an increase to its existing Bilateral FCI Issuing Commitment hereunder and/or (ii) provide additional Participation FCI Issuing Commitments hereunder and/or designate existing Participation FCI Issuing Lenders to provide an increase to its existing Participation FCI Issuing Commitment hereunder. No Person shall have any obligation hereunder to become such an additional FCI Issuing Lender or to provide any such additional or increased Bilateral FCI Issuing Commitment or Participation FCI Issuing Commitment. The FCI Issuing Lender or other Person that in its sole discretion agrees to provide any such increased or additional Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment shall enter into an FCI Issuing Lender Joinder Agreement with completions reasonably acceptable to the Administrative Agent, the Foreign Trade Facility Agent and the Parent Borrower. No such designation shall be made to of (i) the Parent Borrower or the Parent Borrower’s Affiliates or Subsidiaries Subsidiaries, or (ii) a natural person. Upon consummation of any such FCI Issuing Lender Joinder Agreement, Schedule 1.1A shall be deemed revised to reflect the applicable Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment added pursuant to such FCI Issuing Lender Joinder Agreement. If all the conditions precedent to issuance of a new FCI are satisfied, then in lieu of issuing a new FCI, such additional Bilateral FCI Issuing Lender or Participation FCI Issuing Lender may, at the written request of the Parent Borrower or the applicable Foreign Subsidiary Borrower and with the written consent of the Foreign Trade Facility Agent, roll into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, an outstanding undertaking that meets all of the requirements to be an FCI hereunder, in which case such undertaking shall thereafter be treated as if it were issued hereunder, and such Bilateral FCI Issuing Lender or Participation FCI Issuing Lender, as applicable, shall be deemed to represent and warrant that each such FCI that is rolled into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, complies with Section 2.6(cthe foregoing clauses (c), Section 2.6(d(d), Section 2.6(e(e) and Section 2.6(f(f), as applicable.

Appears in 1 contract

Samples: Credit Agreement (SPX FLOW, Inc.)

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Additional FCI Issuing Lenders. Upon notice to the Administrative Agent and the Foreign Trade Facility Agent (which shall promptly notify the Lenders with Participation FCI Commitments with respect to any addition of a Participation FCI Issuing Lender)Agent, the Parent U.S. Borrower may designate additional FCI Issuing Lenders to (i) provide additional Bilateral FCI Issuing Commitments hereunder and/or designate existing Bilateral FCI Issuing Lenders to provide an increase to its existing Bilateral FCI Issuing Commitment hereunder and/or (ii) provide additional Participation FCI Issuing Commitments hereunder and/or designate existing Participation FCI Issuing Lenders to provide an increase to its existing Participation FCI Issuing Commitment hereunder. No Person shall have any obligation hereunder to become such an additional FCI Issuing Lender or to provide any such additional or increased Bilateral FCI Issuing Commitment or Participation FCI Issuing Commitment. The FCI Issuing Lender or other Person that in its sole discretion agrees to provide any such increased or additional Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment shall enter into an FCI Issuing Lender Joinder Agreement with completions reasonably acceptable to the Administrative Agent, the Foreign Trade Facility Agent and the Parent U.S. Borrower. No such designation shall be made to (i) the Parent, the U.S. Borrower, any Affiliate of the Parent or the U.S. Borrower or the Parent Borrower’s Affiliates or Subsidiaries any Subsidiary or (ii) a natural personperson (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, one or more natural persons). Upon consummation of any such FCI Issuing Lender Joinder Agreement, Schedule 1.1A shall be deemed revised to reflect the applicable Bilateral FCI Issuing Commitment and/or Participation FCI Issuing Commitment added pursuant to such FCI Issuing Lender Joinder Agreement. If all the conditions precedent to issuance of a new FCI are satisfied, then in lieu of issuing a new FCI, such additional Bilateral FCI Issuing Lender or Participation FCI Issuing Lender may, at the written request of the Parent U.S. Borrower or the applicable Foreign Subsidiary Borrower and with the written consent of the Foreign Trade Facility Agent, roll into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, an outstanding undertaking that meets all of the requirements to be an FCI hereunder, in which case such undertaking shall thereafter be treated as if it were issued hereunder, and such Bilateral FCI Issuing Lender or Participation FCI Issuing Lender, as applicable, shall be deemed to represent and warrant that each such FCI that is rolled into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, complies with Section 2.6(c), Section 2.6(d), Section 2.6(e) and Section 2.6(f), as applicable.

Appears in 1 contract

Samples: Credit Agreement (SPX Technologies, Inc.)

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