Common use of Assignments and Reallocations Clause in Contracts

Assignments and Reallocations. The Lenders have agreed among themselves, in consultation with the Borrower, to reallocate their respective Commitments and to, among other things, add National Bank of Active.00000000.6 Canada, Commonwealth Bank of Australia and BP Energy Company as “Lenders” under the Credit Agreement (each a “New Lender”) and Regions Bank has decided to exit as a Lender (the “Exiting Lender”). The Administrative Agent and the Borrower hereby consent to such reallocation and the Lenders’ and Exiting Lender’s assignments of their Commitments, including assignments to the New Lenders. On the Ninth Amendment Effective Date and after giving effect to such reallocations, the Commitment of each Lender shall be as set forth on Schedule 1 of this Ninth Amendment which Schedule 1 supersedes and replaces the Schedule 1 to the Original Credit Agreement. With respect to such reallocation, each Lender shall be deemed to have acquired the Commitment allocated to it from each of the other Lenders and the Exiting Lender pursuant to the terms of the Assignment and Assumption Agreement attached as Exhibit F to the Original Credit Agreement as if each such Lender and Exiting Lender had executed an Assignment and Assumption Agreement with respect to such allocation. In connection with this Assignment and for purposes of this Assignment only, the Lenders, the New Lenders, the Exiting Lender, the Administrative Agent and the Borrower waive the processing and recordation fee under Section 10.5(b)(iv).

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Linn Energy, LLC)

AutoNDA by SimpleDocs

Assignments and Reallocations. The For an agreed consideration, the existing Lenders (the “Existing Lenders”) have agreed among themselvesthemselves to assign portions of their Commitments, in consultation with Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and to allow Compass Bank and DNB Capital LLC (collectively, the Borrower, to reallocate their respective Commitments and to, among other things, add National Bank of Active.00000000.6 Canada, Commonwealth Bank of Australia and BP Energy Company as “Lenders” under the Credit Agreement (each a “New LenderLenders”) to acquire their interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Regions Bank has decided to exit as a Lender (Revolving Credit Exposures. Each of the “Exiting Lender”). The Administrative Agent and the Borrower hereby consent consents to (a) such reallocation and the Lenders’ and Exiting Lender’s assignments of their the Commitments, including assignments to Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and (b) the New Lenders’ acquisition of interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures. The assignments by the Existing Lenders necessary to effect the reallocation of the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and the assumptions by the New Lenders necessary for them to acquire such interests are hereby consummated pursuant to the terms and provisions of this First Amendment and Section 12.04(b), and the Borrower, the Administrative Agent and each Lender, including the New Lenders, hereby consummates such assignment and assumption pursuant to the terms, provisions and representations of the Assignment and Assumption attached as Exhibit G to the Credit Agreement as if each of them had executed and delivered an Assignment and Assumption (with the Effective Date (as defined therein) being the First Amendment Effective Date); provided that (i) the Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 12.04(b)(ii)(C) with respect to such assignments and assumptions, and (ii) if any New Lender is a Non-US Lender it shall have delivered to the Borrower (with a copy to the Administrative Agent) the documentation required pursuant to Section 5.03(g). On the Ninth First Amendment Effective Date and after giving effect to such reallocationsassignments and assumptions, the Commitment Applicable Percentage and Maximum Credit Amount of each Lender shall be as set forth on Schedule 1 of this Ninth Amendment which Schedule 1 supersedes and replaces the Schedule 1 to the Original Credit Agreementin Annex I hereto. With respect to such reallocationEach Lender, each Lender shall be deemed to have acquired the Commitment allocated to it from each of the other Lenders and the Exiting Lender pursuant to the terms of the Assignment and Assumption Agreement attached as Exhibit F to the Original Credit Agreement as if each such Lender and Exiting Lender had executed an Assignment and Assumption Agreement with respect to such allocation. In connection with this Assignment and for purposes of this Assignment only, the Lenders, including the New Lenders, hereby consents and agrees to the Exiting Lender, the Administrative Agent Applicable Percentages and the Borrower waive the processing and recordation fee under Section 10.5(b)(iv)Maximum Credit Amounts as set forth in Annex I hereto.

Appears in 1 contract

Samples: Credit Agreement (Diversified Energy Co PLC)

Assignments and Reallocations. The Lenders have agreed among themselves, in consultation with the Borrower, to reallocate their respective Commitments Maximum Credit Amounts and to, among other things, add National Bank of Active.00000000.6 Canada, Commonwealth Bank of Australia and BP Energy Company as “Lenders” under the Credit Agreement (each a “New Lender”) and Regions Bank has decided to exit as a Lender (the “Exiting Lender”)Elected Commitment Amounts. The Administrative Agent and the Borrower hereby consent to such reallocation and the Lenders’ and Exiting Lender’s assignments of their Commitments, including assignments to the New LendersMaximum Credit Amounts and Elected Commitment Amounts. On the Ninth Amendment Effective Date and after giving effect to such reallocations, the Maximum Credit Amount and Elected Commitment Amount of each Lender shall be as set forth on Schedule 1 Annex I of this Ninth Amendment which Schedule 1 Annex I supersedes and replaces the Schedule 1 Annex I to the Original Credit Agreement. With respect to such reallocation, each Lender shall be deemed to have acquired the Maximum Credit Amount and Elected Commitment Amount allocated to it from each of the other Lenders and the Exiting Lender pursuant to the terms of the Assignment and Assumption Agreement attached as Exhibit F G to the Original Credit Agreement as if each such Lender and Exiting Lender had executed an Assignment and Assumption Agreement with respect to such allocation. In connection with the assignments in this Assignment Ninth Amendment and for purposes of this Assignment such assignments only, the - 12 - Lenders, the New Lenders, the Exiting Lender, the Administrative Agent and the Borrower waive the processing and recordation fee under Section 10.5(b)(iv12.04(b)(ii)(C).

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

AutoNDA by SimpleDocs

Assignments and Reallocations. The Lenders have agreed among themselves, in consultation with the Borrower, to reallocate their respective Commitments Maximum Credit Amounts and to, among other things, add National Elected Commitment Amounts and to admit SunTrust Bank of Active.00000000.6 Canada, Commonwealth Bank of Australia and BP Energy Company as “Lenders” under the Credit Agreement (each a “New Lender”) and Regions Bank has decided to exit as a Lender (the “Exiting New Lender”). The Administrative Agent and the Borrower hereby consent to such reallocation and the Lenders’ and Exiting Lender’s assignments of their Commitments, including assignments the Maximum Credit Amounts and Elected Commitment Amounts and the assignment to the New LendersLender of their Maximum Credit Amounts and Elected Commitments. On the Ninth Twelfth Amendment Effective Date and after giving effect to such reallocationsreallocations and assignments, the Maximum Credit Amount and Elected Commitment Amount of each Lender shall be as set forth on Schedule 1 Annex I of this Ninth Twelfth Amendment which Schedule 1 Annex I supersedes and replaces the Schedule 1 Annex I to the Original Credit Agreement. With respect to such reallocationreallocation and assignments, each Lender shall be deemed to have acquired the Maximum Credit Amount and Elected Commitment Amount allocated to it from each of the other Lenders and the Exiting Lender pursuant to the terms of the Assignment and Assumption Agreement attached as Exhibit F G to the Original Credit Agreement as if each such Lender and Exiting Lender (including the New Lender) had executed an Assignment and Assumption Agreement with respect to such allocation. In connection with the assignments in this Assignment Twelfth Amendment and for purposes of this Assignment such assignments only, the Lenders, the New Lenders, the Exiting Lender, the Administrative Agent and the Borrower waive the processing and recordation fee under Section 10.5(b)(iv12.04(b)(ii)(C).

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.