Common use of Changes in Commitments Clause in Contracts

Changes in Commitments. With effect from and including the Amendment Effective Date, (i) each Person listed on Appendix A hereto that is not a party to the Existing Credit Agreement (each, a “New Lender” and, together with each Person that is not an Exiting Lender, the “Continuing Lenders”) shall become a Lender party to the Amended Credit Agreement, (ii) the Commitment of each Lender shall be the amount set forth opposite the name of such Lender on Appendix A hereto and (iii) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B. On the Amendment Effective Date, any Lender whose name does not appear on Appendix A (each, an “Exiting Lender”) shall cease to be a Lender party to the Credit Agreement, and all accrued fees and other amounts payable under the Credit Agreement for the account of each Exiting Lender shall be due and payable on such date; provided that the provisions of Sections 2.12, 2.16, 2.17 and 9.03 of the Credit Agreement shall continue to inure to the benefit of each Exiting Lender after the Amendment Effective Date. On the Amendment Effective Date, the Commitment Ratio of the Continuing Lenders shall be redetermined giving effect to the adjustments to the Commitments referred to in this Section 3, and the participations of the Continuing lenders in and the obligations of the Continuing Lenders in respect of any Letters of Credit outstanding on the Amendment Effective Date shall be reallocated to reflect such redetermined Commitment Ratio.

Appears in 4 contracts

Samples: Credit Agreement (PPL Electric Utilities Corp), Credit Agreement (PPL Electric Utilities Corp), Credit Agreement (PPL Electric Utilities Corp)

AutoNDA by SimpleDocs

Changes in Commitments. With effect from and including the Amendment Effective Date, (i) each Person listed on Appendix A Schedule 1 hereto that is not a party to the Existing Credit Agreement (each, a “New Lender” and, together with each Person Lender that is not an Exiting Lender, the “Continuing Lenders”) shall become a Lender party to the Amended Credit Agreement, (ii) the Commitment of each Lender shall be the amount set forth opposite the name of such Lender on Appendix A hereto Schedule 1 and (iii) each JLA Issuing Bank shall have the Fronting Sublimit Commitment Appendix set forth in on Schedule 1 hereto shall replace the Commitment Appendix B. attached to the Credit Agreement. On the Amendment Effective Date, any Lender whose name does not appear on Appendix A Commitment is changed to zero (each, an “Exiting Lender”) shall cease to be a Lender party to the Credit Agreement, and all accrued fees and other amounts payable under the Credit Agreement for the account of each Exiting Lender shall be due and payable on such date; provided that the provisions of Sections 2.12, 2.16, 2.17 and 9.03 of the Credit Agreement shall continue to inure to the benefit of each Exiting Lender after the Amendment Effective Date. On the Amendment Effective Date, the Commitment Ratio of the Continuing Lenders shall be redetermined giving effect to the adjustments to the Commitments referred to in this Section 35, and the participations of the Continuing lenders in and the obligations of the Continuing Lenders in respect of any Letters of Credit outstanding on the Amendment Effective Date shall be reallocated to reflect such redetermined Commitment Ratio.

Appears in 3 contracts

Samples: Credit Agreement (LG&E & KU Energy LLC), Credit Agreement (LG&E & KU Energy LLC), Credit Agreement (LG&E & KU Energy LLC)

AutoNDA by SimpleDocs

Changes in Commitments. With effect from and ---------------------- including the Amendment 1998 Effective Date, (i) each Person listed on Appendix A hereto the signature pages hereof that is not a party to the Existing Credit Agreement (each, a "New Lender” and, together with each Person that is not an Exiting Lender, the “Continuing Lenders”") shall become a Lender party to the Amended Credit Agreement, Agreement and (ii) the Commitment of each Lender shall be the amount set forth opposite the name of such Lender on Appendix A hereto and (iii) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B. On the Amendment Effective Date, any signature pages hereof. Any Lender whose name does not appear on Appendix A Commitment is changed to zero (each, an "Exiting Lender") shall upon the 1998 Effective Date cease to be a Lender party to the Agreement (and, without omitting the generality of the foregoing, its participation in any outstanding Participated Letter of Credit Agreementshall automatically be canceled without any further action), and all accrued fees Fees and other amounts (other than principal and interest) payable under the Credit Agreement for the account of each an Exiting Lender shall to the 1998 Effective Date shall, notwithstanding the provisions of Article 2 of the Agreement, be due and payable for the account of such Exiting Lender on such datethe 1998 Effective Date; provided that the provisions of Sections 2.128.3, 2.16, 2.17 8.4 and 9.03 9.3 of the Credit Agreement shall continue to inure to the benefit of each Exiting Lender and, provided further that each Exiting Lender shall continue to be bound -------- ------- by Section 9.8 of the Agreement with respect to information provided to it prior to such date. The calculation of accrued Fees payable to each continuing Lender on the first Quarterly Date or other date after the Amendment 1998 Effective DateDate on which Fees are payable shall reflect any changes in the Commitments of such Lenders made pursuant to this Section 5 and, notwithstanding the provisions of Section 2.13 of the Agreement, shall be paid to each such Lender accordingly. On If Loans are outstanding on the Amendment 1998 Effective DateDate and, as a result of changes in the Commitments of the Lenders, such Loans are not held by the continuing Lenders ratably in proportion to their Commitments, the Commitment Ratio of the Continuing Lenders shall be redetermined (including New Lenders and Exiting Lenders) shall, as appropriate, buy and sell such Loans such that, after giving effect to the adjustments to the Commitments referred to in this Section 3such purchases, such Loans are held ratably, and the participations Section 2.14 of the Continuing lenders in and the obligations of the Continuing Lenders in respect of Agreement shall apply to any Letters of Credit outstanding on the Amendment Effective Date shall be reallocated to reflect such redetermined Commitment Ratiopurchases.

Appears in 1 contract

Samples: Inventory Credit Agreement (Bethlehem Steel Corp /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!