Common use of New Lender Clause in Contracts

New Lender. By its execution and delivery of this Amendment, the New Lender hereby agrees to become a Lender under the Credit Agreement with a Revolving Commitment as set forth on Schedule II to the Credit Agreement. The New Lender hereby represents and warrants to the Administrative Agent as follows: (a) it has full power and authority, and has taken all action necessary, to execute and deliver this Amendment, to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (b) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its Revolving Commitment, shall have the obligations of a Lender thereunder, and (c) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.2 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender; and agrees that (1) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (2) it will perform in accordance with their terms all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Lender.

Appears in 1 contract

Samples: Commitment Increase Agreement and Amendment to Credit Agreement (Rowan Companies PLC)

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New Lender. By its execution The New Lender hereby joins in, becomes a party to, and delivery agrees to comply with and be bound by the terms and conditions of this Amendmentthe Credit Agreement as a Lender thereunder and under each and every other Loan Document to which any Lender is required to be bound by the Credit Agreement, to the same extent as if the New Lender hereby agrees to become a Lender under the Credit Agreement with a Revolving Commitment as set forth on Schedule II to the Credit Agreementwas an original signatory thereto. The New Lender hereby represents appoints and warrants authorizes the Administrative Agent to take such action as 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 follows: are reasonably incidental thereto. The New Lender represents and warrants that (a) it has full power and authority, and has taken all action necessary, to execute and deliver this Fourth Amendment, to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (b) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its Revolving Commitment, shall have the obligations of a Lender thereunder, and (c) it has received a copy of the Credit Agreement, together with Agreement and copies of the most recent financial statements delivered pursuant to Section 5.2 8.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Fourth Amendment and to become a Lender on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender; and agrees that (1) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (2c) from and after the Fourth Amendment Effective Date, it will perform in accordance with their terms all of the obligations which shall be a party to and be bound by the terms provisions of the Credit Agreement and the other Loan Documents are required to be performed by it as and have the rights and obligations of a LenderLender thereunder.

Appears in 1 contract

Samples: Credit Agreement (Civitas Resources, Inc.)

New Lender. (a) By its execution and delivery of this Amendment, SunTrust Bank (the New Lender hereby Lender”) agrees to become a Lender under for all purposes and to the same extent as if originally a party to the Credit Agreement with a Revolving Commitment as set forth on Schedule II and agrees to be bound by and entitled to the benefits of the Credit Agreement. . (b) The New Lender hereby (i) represents and warrants that it is legally authorized to the Administrative Agent as follows: (a) it has full power enter into this Amendment and authority, and has taken all action necessary, to execute and deliver this Amendment, to consummate the transactions contemplated hereby and to become a Lender “Lender” under the Credit Agreement, ; (bii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its Revolving Commitment, shall have the obligations of a Lender thereunder, and (c) confirms that it has received a copy of the Credit Agreement, together with the copies of the most recent financial statements delivered pursuant to Section 5.2 thereof, as applicable, 6.2 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment on and become a “Lender” under the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other LenderCredit Agreement; and (iii) agrees that (1) it will, independently and without reliance on upon the Administrative Agent or any other Lender, Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iv) appoints and authorizes the Agent to take any action as agent on its behalf and to exercise any powers under the Loan Documents that are delegated to the Agent by the terms of the Loan Documents, together with all powers that are reasonably incidental thereto; and (2v) agrees that it will shall perform in accordance with their terms all of the obligations which by the terms of the Credit Documents Agreement are required to be performed by it as a Lender.

Appears in 1 contract

Samples: Credit Agreement (Comfort Systems Usa Inc)

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New Lender. By its execution BMO Xxxxxx Bank, N.A. (“BMO”) hereby joins in, becomes a party to, and delivery of this Amendment, the New Lender hereby agrees to become comply with and be bound by the terms and conditions of the Credit Agreement as a Lender thereunder and under each and every other Loan Document to which any Lender is required to be bound by the Credit Agreement, to the same extent as if BMO were an original signatory thereto. BMO hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement with a Revolving Commitment as set forth on Schedule II to the Credit Agreement. The New Lender hereby represents and warrants are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as follows: are reasonably incidental thereto. BMO represents and warrants that (a) it has full power and authority, and has taken all action necessary, to execute and deliver this Amendment, to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (b) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its Revolving Commitment, shall have the obligations of a Lender thereunder, and (c) it has received a copy of the Credit Agreement, together with Agreement and copies of the most recent financial statements delivered pursuant to Section 5.2 8.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and to become a Lender on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender; and agrees that (1) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (2c) from and after the Amendment Effective Date, it will perform in accordance with their terms all of the obligations which shall be a party to and be bound by the terms provisions of the Credit Agreement and the other Loan Documents are required to be performed by it as and have the rights and obligations of a LenderLender thereunder.

Appears in 1 contract

Samples: Credit Agreement (Eagle Rock Energy Partners L P)

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