Common use of Notification by Administrative Agent; Additional Lenders Clause in Contracts

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheld), the Borrower may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 5 contracts

Samples: Credit Agreement, Credit Agreement (Access Midstream Partners Lp), Credit Agreement (Chesapeake Midstream Partners Lp)

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Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, Agent and the Swing Line Lender and each Issuing Lender L/C Issuer (which approvals shall not be unreasonably withheld), the Borrower may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Aggregate Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 4 contracts

Samples: Credit Agreement (SemGroup Energy Partners, L.P.), Credit Agreement (SemGroup Energy Partners, L.P.), Credit Agreement (SemGroup Energy Partners, L.P.)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the L/C Issuer and the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheldwithheld or delayed), the Borrower may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Aggregate Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 3 contracts

Samples: Credit Agreement (Targa Resources Partners LP), Credit Agreement (Targa Resources Partners LP), Credit Agreement (Targa Midstream Services Limited Partnership)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheld), the Borrower may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, Agent and the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheld)L/C Issuer, the Borrower may also invite additional Persons who qualify as Eligible Assignees to become Lenders LendersIn such written notice, the Borrower shall specify the identity of each Lender and each Eligible Assignee that it proposes to approach to provide all or a portion of such increase (subject in each case to any requisite consents required under Section 11.06); provided, however, that (i) any existing Lender approached to provide all or a portion of such increase may elect or decline, in its sole discretion, to provide all or a portion of such increase offered to it (and any Lender that has failed to respond to any such request shall be deemed to have declined to increase its Commitment) and (ii) any Eligible Assignee providing any portion of such increase that is not an existing Lender shall become a Lender pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. It shall not be counsel (a condition to obtaining an increase in the Total Revolving Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable“New Lender Joinder Agreement”).

Appears in 1 contract

Samples: Credit Agreement (American Residential Properties, Inc.)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower Co-Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheld), the Borrower Co-Borrowers may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Commitments that the full amount of such increase requested by the Borrower Co-Borrowers be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower Co-Borrowers is approved by the Lenders and any additional Eligible Assignee, the Borrower Co-Borrowers may, at its their option, accept the amount of the increase so approved, or the Borrower Co-Borrowers may withdraw its their request for all or a portion of such increase, in which case the Borrower Co-Borrowers shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower Company and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested Incremental Term Loan Commitment or increase in the Aggregate Revolving Commitments, as applicable, and subject to the approval of the Administrative Agent, and, in the case of any requested increase in the Aggregate Revolving Commitments, the L/C Issuers and the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheld), the Borrower Company, after the earlier to occur of (i) the Administrative Agent’s receipt of responses to the request from each Lender or (ii) ten Business Days after the delivery of such request, may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counselAgent. It No Lender shall not be a condition obligated to obtaining an participate in such increase in the Total Aggregate Revolving Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or provide any additional Eligible Assignees. If less than the full amount part of the increase requested by Incremental Term Loan Commitment, and shall have the Borrower is approved by the Lenders and right to accept or decline any additional Eligible Assignee, the Borrower may, at request made hereunder in its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicablesole discretion.

Appears in 1 contract

Samples: Credit Agreement (Equifax Inc)

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Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request for an Increase made hereunder. To In the event that the aggregate amount of increases to the Commitments of the Lenders consenting to the requested Increase is less than the amount of the requested Increase, to achieve the full amount of a requested increase and Increase and, subject to the approval of the Administrative Agent, the Swing Line Lender and each Issuing Lender (which approvals approval shall not be unreasonably withheld), the Borrower may also invite additional Persons who qualify as Eligible Assignees to become additional Lenders (“Additional Lenders”) pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Commitments ; provided however, that the full amount Borrower may only invite such Additional Lenders after the later (i) of the date on which each existing Lender has notified the Administrative Agent of its decision in accordance with clause (b) above or (ii) the expiration of the time period for each Lender to respond to the requested Increase. Any such increase requested by the Borrower invitation to such Additional Lenders shall only be approved by the Lenders or any additional Eligible Assignees. If less than with respect to amounts necessary to achieve the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicableIncrease.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Vulcan Materials CO)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the L/C Issuer and the Swing Line Lender and each Issuing Lender (which approvals shall not be unreasonably withheldwithheld or delayed), the Borrower may also invite Table of Contents additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Aggregate Commitments that the full amount of such increase requested by the Borrower be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower is approved by the Lenders and any additional Eligible Assignee, the Borrower may, at its option, accept the amount of the increase so approved, or the Borrower may withdraw its request for all or a portion of such increase, in which case the Borrower shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Targa Resources Partners LP)

Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower Co-Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Swing Line Lender Agent and each Issuing Lender (which approvals shall not be unreasonably withheld), the Borrower Co-Borrowers may also invite additional Persons who qualify as Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. It shall not be a condition to obtaining an increase in the Total Revolving Commitments that the full amount of such increase requested by the Borrower Co-Borrowers be approved by the Lenders or any additional Eligible Assignees. If less than the full amount of the increase requested by the Borrower Co-Borrowers is approved by the Lenders and any additional Eligible Assignee, the Borrower Co-Borrowers may, at its their option, accept the amount of the increase so approved, or the Borrower Co-Borrowers may withdraw its their request for all or a portion of such increase, in which case the Borrower Co-Borrowers shall be deemed not to have made a request for all or a portion of such increase, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

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