Risk Management Policy. (a) As soon as available, but in any event within 60 days of the Closing Date, deliver to the Administrative Agent a certificate of a Responsible Officer of the General Partner attaching, for distribution to the Lenders, a copy of the risk management policy of the Parent (which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall be approved by the board of directors (or equivalent body) of the General Partner) and certifying that such attachment is a true and correct copy of the Risk Management Policy as duly adopted in accordance with the internal risk policies of the Parent. (b) Keep the Risk Management Policy in full force and effect, and in accordance therewith, conduct its business in compliance with the Risk Management Policy. The Parent shall provide at least five (5) Business Days prior written notice to the Administrative Agent of any proposed amendment, modification, supplement or other change to such Risk Management Policy, which proposed amendment, modification, supplement or other change must receive the approval of the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) if relating to the modifications to credit limits or open or stop loss position limits or contract or commodity traded limits. Failure of the Administrative Agent to respond to any proposed amendment, modification, supplement or other change in writing setting forth its reasons for disapproval within ten (10) Business Days of receipt of such written notice from the Parent shall be deemed to be approval of such proposed amendment, modification, supplement or other change by the Administrative Agent. The Parent shall provide to the Administrative Agent (for distribution to the Lenders, including, without limitation, if requested by a Lender, through posting on the Platform), within ten (10) days of the effectiveness of any such amendment, modification, supplement or other change, such revised Risk Management Policy in its entirety. The Borrower agrees that upon request by the Administrative Agent, from time to time, the Borrower and the Administrative Agent will review and evaluate the Borrowers’ Risk Management Policy.
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Samples: Credit Agreement (American Midstream Partners, LP), Credit Agreement (American Midstream Partners, LP)
Risk Management Policy. (a) As soon as available, but in any event within 60 days of the Closing Date, deliver to the Administrative Agent a certificate of a Responsible Officer of the General Partner attaching, for distribution to the Lenders, a copy of the risk management policy of the Parent (which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall be approved by the board of directors (or equivalent body) of the General Partner) and certifying that such attachment is a true and correct copy of the Risk Management Policy as duly adopted in accordance with the internal risk policies of the Parent.
(b) Keep the Risk Management Policy in full force and effect, and in accordance therewith, conduct its business in compliance with the Risk Management Policy. The Parent or the Borrower Representative shall provide at least five (5) Business Days prior written notice to the Administrative Agent of any proposed amendment, modification, supplement or other change to such Risk Management Policy, which proposed amendment, modification, supplement or other change must receive the approval of the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) if relating to the modifications to credit limits or open or stop loss position limits or contract or commodity traded limits. Failure of the Administrative Agent to respond to any proposed amendment, modification, supplement or other change in writing setting forth its reasons for disapproval within ten (10) Business Days of receipt of such written notice from the Parent or the Borrower Representative shall be deemed to be approval of such proposed amendment, modification, supplement or other change by the Administrative Agent. The Parent or the Borrower Representative shall provide to the Administrative Agent (for distribution to the Lenders, including, without limitation, if requested by a Lender, through posting on the Platform), within ten (10) days of the effectiveness of any such amendment, modification, supplement or other change, such revised Risk Management Policy in its entirety. The Each Borrower agrees that upon request by the Administrative Agent, from time to time, Parent, the Borrower Representative and the Administrative Agent will review and evaluate the Borrowers’ Risk Management Policy.
Appears in 2 contracts
Samples: Credit Agreement (American Midstream Partners, LP), Credit Agreement
Risk Management Policy. (a) As soon as available, but in any event within 60 days of the Closing Date, deliver to the Administrative Agent a certificate of a Responsible Officer of the General Partner attaching, for distribution to the Lenders, a copy of the risk management policy of the Parent (which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall be approved by the board of directors (or equivalent body) of the General Partner) and certifying that such attachment is a true and correct copy of the Risk Management Policy as duly adopted in accordance with the internal risk policies of the Parent.
(b) Keep the Risk Management Policy in full force and effect, and in accordance therewith, conduct its business in compliance with the Risk Management Policy. The Parent or the Borrower Representative shall provide at least five (5) Business Days prior written notice to the Administrative Agent of any proposed amendment, modification, supplement or other change to such Risk Management PolicyPolicy that is materially adverse to the interests of the Administrative Agent and the Lenders, which proposed amendment, modification, supplement or other change must receive the approval of the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) if relating to the modifications to credit limits or open or stop loss position limits or contract or commodity traded limits. Failure of the Administrative Agent to respond to any proposed amendment, modification, supplement or other change in writing setting forth its reasons for disapproval within ten (10) Business Days of receipt of such written notice from the Parent or the Borrower Representative shall be deemed to be approval of such proposed amendment, modification, supplement or other change by the Administrative Agent. The Parent or the Borrower Representative shall provide to the Administrative Agent (for distribution to the Lenders, including, without limitation, if requested by a Lender, through posting on the Platform), within ten (10) days of the effectiveness of any such amendment, modification, supplement or other changechange that is materially adverse to the interests of the Administrative Agent and the Lenders, such revised Risk Management Policy in its entirety. The Each Borrower agrees that upon request by the Administrative Agent, from time to time, Parent, the Borrower Representative and the Administrative Agent will review and evaluate the Borrowers’ Risk Management Policy.
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Risk Management Policy. (a) As soon as available, but in any event within 60 days of the Closing Date, deliver to the Administrative Agent a certificate of a Responsible Officer of the General Partner attaching, for distribution to the Lenders, a copy of the risk management policy of the Parent (which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall be approved by the board of directors (or equivalent body) of the General Partner) and certifying that such attachment is a true and correct copy of the Risk Management Policy as duly adopted in accordance with the internal risk policies of the Parent.
(b) Keep the Risk Management Policy in full force and effect, and in accordance therewith, conduct its business in compliance with the Risk Management Policy. The Parent or the Borrower Representative shall provide at least five (5) Business Days prior written notice to the Administrative Agent of any proposed amendment, modification, supplement or other change to such Risk Management Policy, which proposed amendment, modification, supplement or other change must receive the approval of the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) if relating to the modifications to credit limits or open or stop loss position limits or contract or commodity traded limits. Failure of the Administrative Agent to respond to any proposed amendment, modification, supplement or other change in writing setting forth its reasons for disapproval within ten (10) Business Days of receipt of such written notice from the Parent or the Borrower Representative shall be deemed to be approval of such proposed amendment, modification, supplement or other change by the Administrative Agent. The Parent or the Borrower Representative shall provide to the Administrative Agent (for distribution to the Lenders, including, without limitation, if requested by a Lender, through posting on the 84 Platform), within ten (10) days of the effectiveness of any such amendment, modification, supplement or other change, such revised Risk Management Policy in its entirety. The Each Borrower agrees that upon request by the Administrative Agent, from time to time, Parent, the Borrower Representative and the Administrative Agent will review and evaluate the Borrowers’ Risk Management Policy.
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