to the Credit Agreement. Effective as of the First Amendment Effective Date, the parties hereto hereby agree that the aggregate Commitments are hereby increased from $175,000,000 to $225,000,000, such increase by the Accordion Lenders shall be deemed to be in conformity with Section 2.10 of the Amended Credit Agreement, and Schedule 2.1 attached to the Credit Agreement is hereby replaced in its entirety with Schedule 2.1 attached hereto. Schedule 2.1 attached hereto shall be deemed to be attached as Schedule 2.1 to the Amended Credit Agreement as of the First Amendment Effective Date. Immediately after giving effect to this First Amendment and any Borrowings made on the First Amendment Effective Date, (a) each Accordion Lender (including the New Lender) shall advance new Loans which shall be disbursed to the Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Applicable Percentage (immediately after giving effect to this First Amendment) of all Loans, (b) each Lender’s (including the New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage (immediately after giving effect to this First Amendment), (c) such other adjustments shall be made as the Administrative Agent shall reasonably specify so that the Revolving Credit Exposure applicable to each Lender (including the New Lender) equals its Applicable Percentage (immediately after giving effect to this First Amendment) of the aggregate Revolving Credit Exposures of all Lenders, and (d) upon the written request by any applicable Lender, Holdings shall be required to make any break funding payments owing to such Lender under Section 3.5 of the Credit Agreement as a result of the reallocation of Loans and the other adjustments described in this Section 1.3.
Appears in 1 contract
to the Credit Agreement. Effective as of the First Amendment Effective Date, the parties hereto hereby agree that the aggregate Commitments are hereby increased from $175,000,000 to $225,000,000, such increase by the Accordion Lenders shall be deemed to be in conformity with Section 2.10 of the Amended Credit Agreement, and Schedule 2.1 attached to the Credit Agreement is hereby replaced amended and restated in its entirety with in the form of Schedule 2.1 attached hereto. hereto and Schedule 2.1 attached hereto shall be deemed to be attached as Schedule 2.1 to the Amended Credit Agreement as of the First Third Amendment Effective Date. Immediately after giving effect to this First Third Amendment and any Borrowings made on the First Third Amendment Effective Date, (ai) each Accordion Lender (including each New Lender but excluding, for the New avoidance of doubt, the Exiting Lender) who holds Loans in an aggregate amount less than its Applicable Percentage of all Loans shall advance new Loans which shall be disbursed to the Administrative Successor Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Applicable Percentage (immediately after giving effect to this First Amendment) of all LoansLoans (including, for the avoidance of doubt, the repayment of all Loans owing to the Exiting Lender), (bii) each Lender’s (including the any New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage and (immediately after giving effect to this First Amendment), (ciii) such other adjustments shall be made as the Administrative Successor Agent shall reasonably specify so that the Revolving Credit Exposure applicable to each Lender (including the each New Lender) equals its Applicable Percentage (immediately after giving effect to this First Amendment) of the aggregate Revolving Credit Exposures Exposure of all Lenders (and any other such adjustments that the Successor Agent shall specify that provide for the payment of all accrued and unpaid interest owing to the Exiting Lender). Each Exiting Lender and Lender signatory hereto with Loans outstanding as of the Third Amendment Effective Date immediately prior to giving effect to this Third Amendment (excluding, for the avoidance of doubt, the New Lenders, and (d) upon hereby waives the written right to request by any applicable Lender, Holdings shall be required to make any break funding payments owing to such Lender under that are subject to Section 3.5 of the Credit Agreement as a result of the reallocation of Loans and the other adjustments described in this Section 1.33.2.
Appears in 1 contract
to the Credit Agreement. Effective as of the First Amendment Effective Date, the parties hereto hereby agree that the aggregate Commitments are hereby increased from $175,000,000 to $225,000,000, such increase by the Accordion Lenders shall be deemed to be in conformity with Section 2.10 of the Amended Credit Agreement, and Schedule 2.1 attached 2.01 to the Credit Agreement is hereby replaced in its entirety with Schedule 2.1 2.01 attached hereto. hereto and Schedule 2.1 2.01 attached hereto shall be deemed to be attached as Schedule 2.1 2.01 to the Amended Credit Agreement as of the First Amendment Effective DateAgreement. Immediately after After giving effect to this First Amendment Second Amendment, the amendments to the Credit Agreement set forth in Article II hereof and any Borrowings made on the First Second Amendment Effective Date, (a) each Accordion Lender (including other than the New LenderExiting Lenders (as defined below)) who holds Loans in an aggregate amount less than its Applicable Percentage of all Loans shall advance new Loans which shall be disbursed to the Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Applicable Percentage (immediately after giving effect to this First Amendment) of all Loans, (b) each Lender’s (including the New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage (immediately after giving effect to this First Amendment), and (c) such other adjustments shall be made as the Administrative Agent shall reasonably specify so that the Revolving Credit Exposure applicable to each Lender (including the New Lender) equals its Applicable Percentage (immediately after giving effect to this First Amendment) of the aggregate Revolving Credit Exposures Exposure of all Lenders. Each Lender agrees to waive, and (d) upon the written request by any applicable Lenderon a one-time basis, Holdings shall be required to make any break funding payments owing to such Lender it, if any, as required under Section 3.5 2.17 of the Credit Agreement on the Second Amendment Effective Date as a result of the reallocation of Loans and the other adjustments described in contemplated by this Section 1.32.02.
Appears in 1 contract
Samples: Credit Agreement (WPX Energy, Inc.)
to the Credit Agreement. Effective as of the First Amendment Effective Date, the parties hereto hereby agree that the aggregate Commitments are hereby increased from $175,000,000 to $225,000,000, such increase by the Accordion Lenders shall be deemed to be in conformity with Section 2.10 of the Amended Credit Agreement, and Schedule 2.1 attached 1.2 to the Credit Agreement is hereby replaced amended and restated in its entirety with in the form of Schedule 2.1 1.2 attached hereto. , and Schedule 2.1 1.2 attached hereto shall be deemed to be attached as Schedule 2.1 1.2 to the Amended Credit Agreement as of the First Amendment Effective DateAgreement. Immediately after giving effect to this First Second Amendment and any Borrowings made on the First Second Amendment Effective Date, (a) each Accordion Lender (including the each New Lender) who holds Loans in an aggregate amount less than its Applicable Revolving Credit Percentage of all Loans shall advance new Loans which shall be disbursed to the Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Applicable Revolving Credit Percentage (immediately after giving effect to this First Amendment) of all Loans, (b) each Lender’s (including the each New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage (immediately after giving effect to this First Amendment)Revolving Credit Percentage, (c) such other adjustments shall be made as the Administrative Agent shall reasonably specify so that the Revolving Credit Exposure applicable to each Lender (including the each New Lender) equals its Applicable Revolving Credit Percentage (immediately after giving effect to this First Amendment) of the aggregate Revolving Credit Exposures Exposure of all Lenders, Lenders and (d) upon the written request by any each applicable Lender, Holdings the Borrower shall be required to make any break funding payments owing to such Lender that are required under Section 3.5 5.02 of the Credit Agreement (prior to giving effect to the Second Amendment) as a result of the reallocation of Loans and the other adjustments described in this Section 1.32.3 or the conversion of Loans pursuant to Section 3 hereof.
Appears in 1 contract