Common use of New Banks Clause in Contracts

New Banks. Each New Bank hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank thereunder and under each and every other Loan Papers to which any Bank is required to be bound by the Credit Agreement, to the same extent as if the New Bank was an original signatory thereto. Each New Bank hereby appoints and authorizes Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Amendment, to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (ii) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Amendment and to become a Bank on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iii) it satisfies the requirements in the Credit Agreement that are required to be satisfied by it in order to become a Bank and (d) from and after the Seventh Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement and the other Loan Papers and have the rights and obligations of a Bank thereunder.

Appears in 1 contract

Samples: Credit Agreement (Laredo Petroleum, Inc.)

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New Banks. Each New Bank hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank thereunder and under each and every other Loan Papers Paper to which any Bank is required to be bound by the Credit Agreement, to the same extent as if the such New Bank was were an original signatory thereto. Each New Bank hereby appoints and authorizes Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank represents and warrants that (ia) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Fifth Amendment, to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (iib) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Fifth Amendment and to become a Bank on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iii) it satisfies the requirements in the Credit Agreement that are required to be satisfied by it in order to become a Bank and (dc) from and after the Seventh Fifth Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement and the other Loan Papers and have the rights and obligations of a Bank thereunder.

Appears in 1 contract

Samples: Credit Agreement (Laredo Petroleum Holdings, Inc.)

New Banks. Each New Bank Lender hereby joins in, becomes a party to, to and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank Lender thereunder and under each and every other Loan Papers Document to which any Bank Lender is required to be bound by the Credit Agreement, to the same extent as if the such New Bank was were an original signatory thereto. Each New Bank Lender hereby appoints and authorizes Administrative the Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to Administrative the Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank Lender represents and warrants that (ia) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Amendment, to consummate the transactions contemplated hereby and to become a Bank Lender under the Credit Agreement, (iib) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 thereof, the Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Amendment and to become a Bank Lender, on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iii) it satisfies the requirements in the Credit Agreement that are required to be satisfied by it in order to become a Bank Lender and (dc) from and after the Seventh Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement and the other Loan Papers Documents and have the rights and obligations of a Bank Lender thereunder.. (Signatures appear on following pages)

Appears in 1 contract

Samples: Credit Agreement (Primeenergy Corp)

New Banks. Each Effective as of the Eleventh Amendment Effective Date, each New Bank hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank thereunder and under each and every other Loan Papers Paper to which any Bank is required to be bound by the Credit Agreement, to the same extent as if the such New Bank was were an original signatory thereto. Each New Bank hereby appoints and authorizes the Administrative Agent to take such action as agent the Administrative Agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank represents and warrants that (ia) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Eleventh Amendment, to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (iib) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 8.01 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Eleventh Amendment and to become a Bank on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iii) it satisfies the requirements in the Credit Agreement that are required to be satisfied by it in order to become a Bank and (dc) from and after the Seventh Eleventh Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement and the other Loan Papers and have the rights and obligations of a Bank thereunder. Subject to Section 9 hereof, from the Eleventh Amendment Effective Date until the Initial Fall 2023 Acquisition Closing Date, each New Bank’s Revolving Commitment, Elected Revolving Commitment and Maximum Credit Amount shall be $0.00.

Appears in 1 contract

Samples: Credit Agreement (Vital Energy, Inc.)

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New Banks. Each New Bank hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank thereunder and under each and every other Loan Papers Paper to which any Bank is required to be bound by the Credit Agreement, to the same extent as if the such New Bank was were an original signatory thereto. Each New Bank hereby appoints and authorizes the Administrative Agent to take such action as agent the Administrative Agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank represents and warrants that (ia) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Fourth Amendment, to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (iib) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Fourth Amendment and to become a Bank on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iiic) it satisfies the requirements requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to become a Bank and (d) from and after the Seventh Fourth Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement (as amended by this Fourth Amendment) and the other Loan Papers and have the rights and obligations of a Bank thereunder.

Appears in 1 contract

Samples: Credit Agreement (Brigham Minerals, Inc.)

New Banks. Each As of the Fifth Amendment Effective Date, each New Bank hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Bank thereunder and under each and every other Loan Papers Paper to which any Bank is required to be bound by the Credit Agreement, to the same extent as if the such New Bank was were an original signatory thereto. Each New Bank hereby appoints and authorizes the Administrative Agent to take such action as agent the Administrative Agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Bank represents and warrants that (ia) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Fifth Amendment, to consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (iib) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered or deemed delivered by the Borrower pursuant to Section 8.1 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Fifth Amendment and to become a Bank on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, (iiic) it satisfies the requirements requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to become a Bank and (d) from and after the Seventh Fifth Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement (as amended by this Fifth Amendment) and the other Loan Papers and have the rights and obligations of a Bank thereunder.

Appears in 1 contract

Samples: Credit Agreement (Brigham Minerals, Inc.)

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