Amendment to Section 5.14 of the Credit Agreement. The proviso in the first sentence of Section 5.14 of the Credit Agreement shall be amended and restated in its entirety to read as follows: provided, that in no event shall any Foreign Subsidiary of Holdings (other than each Interco and, at its option, each other Foreign Subsidiary which elects to guarantee the US Secured Obligations and provide security therefor by executing and delivering the appropriate Loan Documents, which election shall be irrevocable once made) guarantee any Obligations of an entity organized in the United States or provide security therefor.
Appears in 3 contracts
Samples: Credit Agreement (Edgen Group Inc.), Credit Agreement (Edgen Murray II, L.P.), Credit Agreement (Edgen Murray LTD)
Amendment to Section 5.14 of the Credit Agreement. The proviso in the first sentence of Section 5.14 of the Credit Agreement shall be amended and restated and new clauses (d) and (e) shall be added to Section 5.14 of the Credit Agreement, all of which will read in its entirety to read full as follows: provided, that in no event shall any Foreign Subsidiary of Holdings (other than each Interco and, at its option, each other any Foreign Subsidiary which elects to guarantee the US Secured Obligations and provide security therefor by executing and delivering the appropriate Loan Documents, which election shall be irrevocable once made) guarantee any Obligations of an entity organized in the United States or provide security therefor.therefore
Appears in 2 contracts
Samples: Credit Agreement (Edgen Group Inc.), Credit Agreement (Edgen Murray II, L.P.)