Common use of New Lenders and Reallocation of Commitments and Loans Clause in Contracts

New Lenders and Reallocation of Commitments and Loans. The Lenders have agreed among themselves to reallocate their respective Commitments and to, among other things, allow certain financial institutions identified by X.X. Xxxxxx Securities, Inc., and Banc of America Securities LLC in their respective capacities as Arrangers, in consultation with the Borrower, to become a party to the Credit Agreement as a Lender (each, a “New Lender”) by acquiring an interest in the Aggregate Commitment and Administrative Agent and the Borrower hereby consent to such reallocation and each New Lender’s acquisition of an interest in the Aggregate Commitment. On the date this Amendment becomes effective and after giving effect to such reallocation of the Aggregate Commitment, the Commitment and Applicable Percentage of each Lender shall be as set forth on Schedule 2.01 of this Amendment. With respect to such reallocation, (i) each New Lender shall be deemed to have acquired the Commitment allocated to it from each of the other Lenders and such acquisition and the reallocation of the Aggregate Commitment among the Lenders shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit C to the Credit Agreement as if such New Lender and the other Lenders had executed an Assignment and Assumption with respect to such reallocation, (ii) each New Lender shall fund its Applicable Percentage of any outstanding Revolving Loans to the Administrative Agent, and (iii) each Lender (other than the New Lenders) shall fund its portion of the increase in the Revolving Loans, as determined by the Administrative Agent, to the Administrative Agent such that, after giving effect thereto, the principal amount of each Lender’s outstanding Revolving Loans shall be and be deemed to be equal to its Applicable Percentage of the aggregate outstanding principal amount of all Revolving Loans. The Borrower and Administrative Agent hereby consent to such assignment to the New Lenders. The Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 10.06(b)(iv) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 3. To the extent requested by any Lender, and in accordance with Section 2.16 of the Credit Agreement, the Borrower shall pay to such Lender, within the time period prescribed by Section 2.16 of the Credit Agreement, any amounts required to be paid by the Borrower under Section 2.16 of the Credit Agreement in the event the payment of any principal of any Eurodollar Loan or the conversion of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto is required in connection with the addition and reallocation contemplated by this Section 3.

Appears in 1 contract

Samples: Credit Agreement (Concho Resources Inc)

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New Lenders and Reallocation of Commitments and Loans. The Lenders have agreed among themselves to reallocate their respective Commitments Applicable Percentages of the Aggregate Commitment and to, among other things, allow certain financial institutions identified by X.X. Xxxxxx SecuritiesGuaranty Bank, Inc., and Banc of America Securities LLC in their respective capacities its capacity as ArrangersLead Arranger, in consultation with the Borrower, to become a party to the Credit Agreement as a Lender (each, a “New Lender”) by acquiring an interest in the Aggregate Commitment and Administrative Commitment. The Successor Agent and the Borrower hereby consent to such reallocation and to each New Lender’s acquisition of an interest in the Aggregate Commitment. On the date this Seventh Amendment becomes effective Effective Date and after giving effect to such reallocation of the Aggregate Commitment, the Commitment and Applicable Percentage of each Lender shall be as set forth on Schedule 2.01 of this Amendment. With respect to such reallocation, (i) each New Lender shall be deemed to have acquired the its Commitment allocated to it from each of the other Lenders and such acquisition and the reallocation of the Aggregate Commitment among the Lenders shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit C A to the Credit Agreement as if such New Lender and the other Lenders had executed an Assignment and Assumption with respect to such reallocation, (ii) each New Lender shall fund its Applicable Percentage of any outstanding Revolving Loans to the Administrative Agent, and (iii) each Lender (other than the New Lenders) shall fund its portion of the increase in the Revolving Loans, as determined by the Administrative Agent, to the Administrative Agent such that, after giving effect thereto, the principal amount of each Lender’s outstanding Revolving Loans shall be and be deemed to be equal to its Applicable Percentage of the aggregate outstanding principal amount of all Revolving Loansallocation. The Borrower and Administrative the Successor Agent hereby consent to such assignment to the New Lenders. The Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 10.06(b)(iv) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 3. To the extent requested by any Lender or by JPMorgan Chase Bank, N.A. or Bank of Scotland plc (each a “Departing Lender” and collectively, and the “Departing Lenders”) in accordance with Section 2.16 2.15 of the Credit Agreement, the Borrower shall pay to such Lender or Departing Lender, within the time period prescribed by Section 2.16 2.15 of the Credit Agreement, any amounts required to be paid by the Borrower under Section 2.16 2.15 of the Credit Agreement in the event the payment of any principal of any Eurodollar Loan or Loan, the conversion of any Eurodollar Loan, or the assignment of any Eurodollar Loan by any Departing Lender other than on the last day of an Interest Period applicable thereto is required in connection with the addition and reallocation contemplated by this Section 32 or the assignments contemplated in Section 7.9 of this Amendment.

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

New Lenders and Reallocation of Commitments and Loans. The Lenders have agreed among themselves themselves, in consultation with the Borrower, to reallocate their respective Commitments and (i) to, among other things, allow certain financial institutions identified by X.X. Xxxxxx Securitieseach of Bank of America, Inc.N.A., Compass Bank and Banc of America Securities LLC in their respective capacities as Arrangers, in consultation with the Borrower, U.S. Bank National Association to become a party to the Credit Agreement as a Lender Lender, (each, each a “New Lender”) by acquiring an interest in the Aggregate total Commitments, (ii) to allow Guaranty Bank, FSB (“Guaranty Bank”) and The Bank of Tokyo – Mitsubishi UFJ, Ltd., New York Branch (as successor by merger to UFJ Bank Limited) (each, an “Exiting Lender”) to assign and be released from their respective Commitment and (iii) to allow Guaranty Bank to resign as co-agent. The Administrative Agent and the Borrower hereby consent to such reallocation and each New Lender’s acquisition of an interest in the Aggregate Commitmenttotal Commitments, each Exiting Lenders assignment and release from their respective Commitment and to Guaranty Bank's resignation as a co-agent. On the date this Fourth Amendment becomes effective Effective Date and after giving effect to such reallocation of the Aggregate Commitmenttotal Commitments, the Commitment and Applicable Percentage of each Lender shall be as set forth on Schedule 2.01 Annex I of this AmendmentAmendment and the Commitment of each Exiting Lender shall be zero ($0.00). With respect to such reallocation, (i) each New Lender shall be deemed to have acquired the Commitment allocated to it from each of the other Lenders and such acquisition and Lenders, including the reallocation of the Aggregate Commitment among the Lenders shall be deemed to have been consummated Exiting Lenders, pursuant to the terms of the Assignment and Assumption Agreement attached as Exhibit C G to the Credit Agreement as if such New Lender and the other Lenders had executed an Assignment and Assumption Agreement with respect to such reallocation, (ii) each New allocation. Each Exiting Lender shall fund agrees to promptly return its Applicable Percentage of any outstanding Revolving Loans to the Administrative Agent, and (iii) each Lender (other than the New Lenders) shall fund its portion of the increase in the Revolving Loans, as determined by the Administrative Agent, to the Administrative Agent such that, after giving effect thereto, the principal amount of each Lender’s outstanding Revolving Loans shall be and be deemed to be equal to its Applicable Percentage of the aggregate outstanding principal amount of all Revolving Loans. The Borrower and Administrative Agent hereby consent to such assignment to the New Lenders. The Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 10.06(b)(iv) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 3. To the extent requested by any Lender, and in accordance with Section 2.16 of the Credit Agreement, the Borrower shall pay to such Lender, within the time period prescribed by Section 2.16 of the Credit Agreement, any amounts required to be paid by the Borrower under Section 2.16 of the Credit Agreement in the event the payment of any principal of any Eurodollar Loan promissory note marked “cancelled” or the conversion of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto is required in connection with the addition and reallocation contemplated by this Section 3otherwise defaced.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Rosetta Resources Inc.)

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New Lenders and Reallocation of Commitments and Loans. The Lenders have agreed among themselves to reallocate their respective Commitments and to, among other Second Amendment to Credit Agreement things, allow certain a financial institutions institution identified by X.X. Xxxxxx Securities, Inc., and Banc of America Securities LLC in their respective capacities its capacity as Arrangersa Lead Arranger, in consultation with the Borrower, to become a party to the Credit Agreement as a Lender (each, a the “New Lender”) by acquiring an interest in the Aggregate Commitment Commitment, and Administrative Agent and the Borrower hereby consent to such reallocation and each the New Lender’s acquisition of an interest in the Aggregate Commitment. On the date this Amendment becomes effective and after giving effect to such reallocation of the Aggregate Commitment, the Commitment and Applicable Percentage of each Lender shall be as set forth on Schedule 2.01 of this AmendmentAmendment which shall amend and restate Schedule 2.01 to the Credit Agreement in its entirety. With respect to such reallocation, (i) each the New Lender shall be deemed to have acquired the Commitment allocated to it from each of the other Lenders and such acquisition and the reallocation of the Aggregate Commitment among the Lenders shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit C A to the Credit Agreement as if such the New Lender and the other Lenders had executed an Assignment and Assumption with respect to such reallocation, (ii) each New Lender shall fund its Applicable Percentage of any outstanding Revolving Loans to the Administrative Agent, and (iii) each Lender (other than the New Lenders) shall fund its portion of the increase in the Revolving Loans, as determined by the Administrative Agent, to the Administrative Agent such that, after giving effect thereto, the principal amount of each Lender’s outstanding Revolving Loans shall be and be deemed to be equal to its Applicable Percentage of the aggregate outstanding principal amount of all Revolving Loansallocation. The Borrower and Administrative Agent hereby consent to such assignment to the New Lenders. The Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 10.06(b)(iv) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 3Lender. To the extent requested by any Lender, and Lender in accordance with Section 2.16 2.15 of the Credit Agreement, the Borrower shall pay to such Lender, within the time period prescribed by Section 2.16 2.15 of the Credit Agreement, any amounts required to be paid by the Borrower under Section 2.16 2.15 of the Credit Agreement in the event the payment of any principal of any Eurodollar Loan or the conversion of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto is required in connection with the addition and reallocation contemplated by this Section 32.

Appears in 1 contract

Samples: Credit Agreement (Gasco Energy Inc)

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