Common use of Exiting Lender Clause in Contracts

Exiting Lender. From and after the Amendment Effective Date, (a) upon receipt by the Exiting Lender of an amount equal to all principal, interest and fees in respect of outstanding Loans and other Indebtedness owing to the Exiting Lender under the Credit Agreement and the other Loan Documents, the Exiting Lender shall cease with immediate effect to be a party to and a Lender under the Credit Agreement and the other Loan Documents, (b) the Exiting Lender shall not have any obligations or liabilities under the Credit Agreement with respect to the period from and after the Amendment Effective Date and, without limiting the foregoing, the Exiting Lender shall not have any Commitment under the Credit Agreement or any LC Exposure outstanding under the Credit Agreement, and (c) the Exiting Lender shall not have any rights or obligations under the Credit Agreement or any other Loan Document; provided, in each case, that the rights and obligations under the Credit Agreement expressly stated to survive the termination of the Credit Agreement and the repayment of amounts outstanding thereunder shall survive for the benefit of the Exiting Lender, the Administrative Agent and the Loan Parties, as applicable, and the Exiting Lender shall continue to be bound by its confidentiality obligations under Section 12.11 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Viper Energy Partners LP)

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Exiting Lender. From and after (a) On the Thirteenth Amendment Effective Date, (a) upon receipt by the Exiting Lender of shall receive an amount equal to all principal, interest interest, and fees in respect of outstanding Loans and other Indebtedness Secured Obligations owing to the such Exiting Lender under the Credit Agreement and the other Loan DocumentsDocuments and (b) from and after the Thirteenth Amendment Effective Date, upon receipt of the amount set forth in the preceding clause (a), (i) the Exiting Lender shall cease with immediate effect to be a party to to, and a Lender under under, the Credit Agreement and the other Loan Documents, (bii) the Exiting Lender shall not have any obligations or liabilities under the Credit Agreement with respect to the period from and after the Thirteenth Amendment Effective Date and, without limiting the foregoing, the Exiting Lender shall not have any Revolving Credit Commitment under the Credit Agreement or any LC Exposure outstanding under the Credit Agreement, Agreement and (ciii) the Exiting Lender shall not have any rights or obligations under the Credit Agreement or any other Loan Document; provided, in each case, provided that the rights and obligations under the Credit Agreement expressly stated to survive the termination of the Credit Agreement and the repayment of amounts outstanding thereunder shall survive for the benefit of the Exiting Lender, the Administrative Agent and the Loan Parties, as applicable, and the . The Exiting Lender shall continue joins in the execution of this Amendment solely for purposes of Section 2 and this Section 4. The Exiting Lender hereby waives any break funding payments owing to be bound by its confidentiality obligations such Exiting Lender that are required under Section 12.11 of the Existing Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gran Tierra Energy Inc.)

Exiting Lender. From and after By its execution of this Amendment, the Amendment Effective Date, Exiting Lender hereby (a) consents to this Amendment in its capacity as a “Lender” under the Credit Agreement solely for purposes of Section 11.10 of the Credit Agreement, and (b) acknowledges and agrees to Section 4 and Section 5 of this Amendment. Each of the parties hereto hereby agrees and confirms that after giving effect to Section 4 and Section 5 hereof, including upon receipt by the Exiting Lender of an amount equal to all principal, unpaid principal and interest and fees in respect of outstanding Loans and other Indebtedness owing to the Exiting Lender under the Credit Agreement and the other Loan Documents, (i) the Exiting Lender shall cease with immediate effect to be a party to to, and a Lender under under, the Credit Agreement and the other Loan Documents, (bii) the Exiting Lender shall not have any obligations or liabilities under the Credit Agreement with respect to the period from and after the First Amendment Effective Date and, without limiting the foregoing, the Exiting Lender shall not have any Commitment Commitments under the Credit Agreement or any LC Exposure outstanding under the Credit Agreement, and (ciii) the Exiting Lender shall not have any rights or obligations under the Credit Agreement or any other Loan Document; provided, in each case, provided that the rights and obligations under the Credit Agreement expressly stated to survive the assignment of rights by Lenders, the termination of the Credit Agreement and or the repayment of amounts outstanding thereunder shall survive for the benefit of the Exiting Lender, the Administrative Agent and the Loan Parties, as applicable, and the Exiting Lender shall continue to be bound by its confidentiality obligations under Section 12.11 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (LandBridge Co LLC)

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Exiting Lender. From On and after the Fifth Amendment Effective Date, (ai) upon receipt by Tri Counties Bank (the Exiting Lender of an amount equal to all principal, interest and fees in respect of outstanding Loans and other Indebtedness owing to the Exiting Lender under the Credit Agreement and the other Loan Documents, the Exiting Lender Lender”) shall cease with immediate effect to be a party to and a Lender under the Credit Agreement and the other Loan DocumentsAgreement, (bii) the Exiting Lender shall not have any no obligations or liabilities as a Lender under the Credit Agreement with respect to the period from and after the Fifth Amendment Effective Date and, without limiting the foregoing, the Exiting Lender shall not have any no Commitment under the Credit Agreement or any LC Exposure L/C Obligations outstanding under the Credit Agreement, hereunder and (ciii) the Exiting Lender shall not have any no rights or obligations under the Existing Credit Agreement, the Credit Agreement or any other Loan Document; provided, in each case, that the Credit Document as a Lender (other than rights and obligations under the Existing Credit Agreement expressly stated to survive the termination of the Existing Credit Agreement and the repayment of amounts outstanding thereunder shall survive for the benefit of the thereunder) and such Exiting Lender, ’s receipt in cash of an amount to repay such Exiting Lender’s Loans in full under the Administrative Agent and the Loan Parties, as applicable, and the Exiting Lender Existing Credit Agreement shall continue be deemed to be bound by its confidentiality obligations under Section 12.11 of a consent to the Credit Agreement.transactions contemplated hereby. |US-DOCS\154101332.9||

Appears in 1 contract

Samples: Credit Agreement (California Resources Corp)

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