Examples of Technical Agents in a sentence
Notwithstanding the foregoing, the January 1 Reserve Report relating to any Oil and Gas Properties not located in the geographical boundaries of the United States of America and Canada and surrounding waters shall be prepared by certified independent petroleum engineers or other independent petroleum consultant(s) reasonably acceptable to the Technical Agents.
Each Lender hereby irrevocably appoints and authorizes the Administrative Agent, the Syndication Agent, the Documentation Agent, the Technical Agents, the Competitive Bid Auction Agent and each Co-Agent to act as its agent hereunder with such powers as are specifically delegated to it by the terms of this Agreement or any Loan Document, together with such other powers as are reasonably incidental thereto.
Upon receipt of the Settlement Amounts into the account detailed in paragraph 5 below, and subject always to paragraph 3 below, the Arranger and Technical Agent confirm the Arrangement Fee Letter, the Technical Agent's Fee Letter and the Supplemental Fee Letter will be terminated.
If any indemnity in favor of the Technical Agent shall be or become, in the Technical Agent's determination, inadequate, the Technical Agent may call for additional indemnification from the Lenders and cease to do the acts indemnified against hereunder until such additional indemnity is given.
Each Lender hereby irrevocably appoints and authorizes the Administrative Agent, the Syndication Agent, the Documentation Agent, the Technical Agents and each Co-Agent to act as its agent hereunder with such powers as are specifically delegated to it by the terms of this Agreement or any Loan Document, together with such other powers as are reasonably incidental thereto.
Notwithstanding the provisions of paragraphs 1 and 2 above, if there is no payment of the Secured Liabilities and the Settlement Amounts, then the terms of Arrangement Fee Letter, the Technical Agent's Fee Letter and the Supplemental Fee Letter shall remain in full force and effect.
On or before April 1st of each year, commencing April 1, 1999, the Technical Agents shall propose in writing to the Company, the Lenders and the Canadian Lenders a new Borrowing Base and Threshold Amount in accordance with Section 2.09(c) (assuming receipt by the Technical Agents of the Engineering Reports in a timely and complete manner).
After having received notice of such proposal by the Technical Agents, each Lender and each Canadian Lender shall have ten (10) days to agree with such proposal or disagree by proposing an alternate Borrowing Base and Threshold Amount.