Common use of Change in Commitments Clause in Contracts

Change in Commitments. (a) With effect from and including the date this Amendment and Restatement becomes effective in accordance with Section 7 hereof (the “AR Effective Date”), (i) each Person listed on the signature pages hereof which is not a party to the Agreement (a “New Bank”) shall become a Bank party to the Agreement and (ii) the Commitment of each Bank shall be the amount set forth opposite the name of such Bank on the attached Commitment Schedule, which shall become the Commitment Schedule referred to in the Agreement. Any Bank under the Agreement not listed on such Commitment Schedule (a “Departing Bank”) shall upon such effectiveness cease to be a Bank party to the Agreement and all accrued fees and other amounts payable under the Agreement for the account of each Departing Bank shall be due and payable on such date; provided that the provisions of Sections 8.03, 8.04 and 9.03 of the Agreement shall continue to inure to the benefit of each Departing Bank.

Appears in 2 contracts

Samples: Credit Agreement (Duke Capital LLC), Credit Agreement (Duke Energy CORP)

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Change in Commitments. (a) With effect from and including the date this Amendment and Restatement becomes effective in accordance with Section 7 hereof (the “AR Effective Date”)hereof, (i) each Person listed on the signature pages hereof which is not a party to the Agreement (a "New Bank") shall become a Bank party to the Agreement and (ii) the Commitment of each Bank shall be the amount set forth opposite the name of such Bank on the attached Commitment Schedule, which shall become the Commitment Schedule referred to in the Agreement. Any Bank under the Agreement not listed on such whose Commitment Schedule is changed to zero (a "Departing Bank") shall upon such effectiveness cease to be a Bank party to the Agreement and all accrued fees and other amounts payable under the Agreement for the account of each Departing Bank shall be due and payable on such date; provided that the provisions of Sections 8.03, 8.04 8.03 and 9.03 of the Agreement shall continue to inure to the benefit of each Departing Bank. Each Departing Bank shall promptly return to Borrower for cancellation the Note delivered to such Bank pursuant to the Agreement.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Praxair Inc), Credit Agreement (Praxair Inc)

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Change in Commitments. (a) With effect from and including the date this Amendment and Restatement becomes effective in accordance with Section 7 hereof (the “AR Effective Date”)hereof, (i) each Person listed on the signature pages hereof which is not a party to the Agreement (a “New Bank”) shall become a Bank party to the Agreement and (ii) the Commitment of each Bank shall be the amount set forth opposite the name of such Bank on the attached Commitment Schedule, which shall become the Commitment Schedule referred to in the Agreement. Any Bank under the Agreement not listed on such Commitment Schedule (a “Departing Bank”) shall upon such effectiveness cease to be a Bank party to the Agreement and all accrued fees and other amounts payable under the Agreement for the account of each Departing Bank shall be due and payable on such date; provided that the provisions of Sections 8.03, 8.04 and 9.03 of the Agreement shall continue to inure to the benefit of each Departing Bank.

Appears in 1 contract

Samples: Credit Agreement (Duke Energy Corp)

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