Common use of Assignments and Reallocations Clause in Contracts

Assignments and Reallocations. For an agreed consideration, the existing Lenders (the “Existing Lenders”) have agreed among themselves to reassign among themselves portions of their Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and to allow Mxxxxx Sxxxxxx Bank, N.A. (the “Exiting Lender”) to assign all of its Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures such that after such reassignments and assignment the Applicable Percentages and Maximum Credit Amounts of each Lender on the Thirteenth Amendment Effective Date shall be as set forth in Annex I attached hereto. Each of the Administrative Agent and the Borrower hereby consents to (a) such reassignments by the Existing Lenders of their Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and (b) the Exiting Lender’s assignment of its interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures. The reassignments by the Existing Lenders and the assignment by the Exiting Lender necessary to effect the reallocation of the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures are hereby consummated pursuant to the terms and provisions of this Thirteenth Amendment and Section 12.04(b), and the Borrower, the Administrative Agent, the Existing Lenders, and the Exiting Lender, hereby consummate 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 Thirteenth Amendment Effective Date; provided that 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 assignment and assumption. Annex I attached to the Credit Agreement is hereby deleted in its entirety and replaced by Axxxx X attached hereto.

Appears in 1 contract

Samples: Credit Agreement (Diversified Energy Co PLC)

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Assignments and Reallocations. For an The Lenders have agreed considerationamong themselves, in consultation with the existing Lenders Borrower, to reallocate their respective Commitments and to, among other things, add Credit Suisse Loan Funding, LLC as a “Lender” under the Credit Agreement (the “Existing LendersNew Lender”) have agreed among themselves to reassign among themselves portions and each of their Commitments, Maximum Credit Amounts, Applicable Percentages Agricole Corporate and Revolving Credit Exposures and to allow Mxxxxx Sxxxxxx Investment Bank, N.A. Deutsche Bank Trust Company Americas, KeyBank National Association, Sumitomo Mitsui Banking Corporation, The Bank of Nova Scotia and The Royal Bank of Scotland plc has decided to exit as a Lender (each, an “Exiting Lender” and, collectively, the “Exiting LenderLenders) to assign all of its Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures such that after such reassignments and assignment the Applicable Percentages and Maximum Credit Amounts of each Lender on the Thirteenth Amendment Effective Date shall be as set forth in Annex I attached hereto). Each of the The Administrative Agent and the Borrower hereby consents consent to (a) such reassignments by reallocation and the Existing Lenders Lenders’ and Exiting Lenders’ assignments of their Commitments, Maximum including assignments to the New Lender. On the Tenth 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 Tenth Amendment which Annex I supersedes and replaces the Annex I to the Credit AmountsAgreement. With respect to such reallocation, Applicable Percentages and Revolving Credit Exposures and (b) each Lender shall be deemed to have acquired the Exiting Lender’s assignment Commitment allocated to it from each of its interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures. The reassignments by the Existing other Lenders and the assignment by the Exiting Lender necessary to effect the reallocation of the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures are hereby consummated Lenders pursuant to the terms and provisions of this Thirteenth Amendment and Section 12.04(b), and the Borrower, the Administrative Agent, the Existing Lenders, and the Exiting Lender, hereby consummate such assignment and assumption pursuant to the terms, provisions and representations of the Assignment and Assumption Agreement attached as Exhibit G F to the Credit Agreement as if each of them such Lender and Exiting Lender had executed and delivered an Assignment and Assumption Agreement with respect to such allocation. In connection with this Assignment and for purposes of this Assignment only, the Effective Date (as defined therein) being Lenders, the Thirteenth Amendment Effective Date; provided that New Lender, the Exiting Lenders, the Administrative Agent hereby waives and the $3,500 Borrower waive the processing and recordation fee set forth in under Section 12.04(b)(ii)(C). After giving effect to this Section 4 and any Borrowings made on the Tenth Amendment Effective Date, (a) with respect each Lender who holds Loans in an aggregate amount less than its Applicable Percentage (after giving effect to this Section 4) 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 of all Loans, (b) each Lender’s participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage (after giving effect to this Section 4), (c) such assignment other adjustments shall be made as the Administrative Agent shall specify so that the Revolving Credit Exposure applicable to each Lender equals its Applicable Percentage (after giving effect to this Section 4) of the aggregate Revolving Credit Exposure of all Lenders and assumption(d) the Borrower shall not be required to make any break-funding payments required under Section 5.02 of the Credit Agreement resulting from the Loans and adjustments described in this Section 4. Annex I attached Each Lender that executes and delivers a signature page hereto that identifies it as a Exiting Lender shall constitute a Exiting Lender as of the Tenth Amendment Effective Date. No Exiting Lender shall have a Commitment on and after the Tenth Amendment Effective Date. Each Exiting Lender shall cease to be a party to the Credit Agreement is hereby deleted in its entirety as of the date hereof, and replaced no Exiting Lender shall have any rights, duties or obligations thereunder. All amounts owing to an Exiting Lender under the Loan Documents that are not otherwise paid through the reallocation procedure set forth herein shall be paid by Axxxx X attached heretothe Borrower to such Exiting Lender as of the Tenth Amendment Effective Date.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Halcon Resources Corp)

Assignments and Reallocations. For an agreed consideration, the existing Lenders (the “Existing Lenders”) have agreed among themselves to reassign among themselves assign portions of their Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and to allow Credit Suisse AG, Cayman Islands Branch, Gxxxxxx Sxxxx Bank USA, and Mxxxxx Sxxxxxx Bank, N.A. (collectively, the “Exiting LenderNew Lenders”) to assign all of its acquire their interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures such that after such reassignments and assignment the Applicable Percentages and Maximum Credit Amounts of each Lender on the Thirteenth Amendment Effective Date shall be as set forth in Annex I attached heretoExposures. Each of the Administrative Agent and the Borrower hereby consents to (a) such reassignments by assignments of the Existing Lenders of their Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and (b) the Exiting Lender’s assignment New Lenders' acquisition of its interests in the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures. The reassignments assignments by the Existing Lenders and the assignment by the Exiting Lender 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 Thirteenth Fifth Amendment and Section 12.04(b), and the Borrower, the Administrative AgentAgent and each Lender, including the Existing New Lenders, and the Exiting Lender, hereby consummate 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 Thirteenth Fifth 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)(C12.04(6 )(ii)(C) with respect to such assignment assignments and assumptionassumptions, 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 Fifth Amendment Effective Date and after giving effect to such assignments and assumptions, the Applicable Percentage and Maximum Credit Amount of each Lender shall be as set forth in Annex I attached hereto. Each Lender, including the New Lenders, hereby consents and agrees to the Applicable Percentages and Maximum Credit Agreement is hereby deleted Amounts as set forth in its entirety and replaced by Axxxx X attached Annex I hereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Diversified Energy Co PLC)

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Assignments and Reallocations. For an agreed consideration, the existing The Lenders (the “Existing Lenders”) have agreed among themselves themselves, in consultation with the Borrower, to reassign among themselves portions of reallocate their Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures and to allow Mxxxxx Sxxxxxx Bank, N.A. (the “Exiting Lender”) to assign all of its Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures such that after such reassignments and assignment the Applicable Percentages and respective Maximum Credit Amounts and Elected Commitments and to, among other things, add Bank of America, N.A., BMO Xxxxxx Bank N.A., Citibank, N.A., Xxxxxxx Sachs Bank USA, PNC Bank, National Association, and The Bank of Nova Scotia as “Lenders” under the Credit Agreement (each Lender on a “New Lender” and collectively, the Thirteenth Amendment Effective Date shall be as set forth in Annex I attached hereto“New Lenders”). Each of the The Administrative Agent and the Borrower hereby consents consent to (a) such reassignments by reallocation and the Existing Lenders Lenders’ assignments of their Maximum Credit Amounts and Elected Commitments, including assignments to the New Lenders. On the Effective Date and after giving effect to such reallocations, the Maximum Credit AmountsAmount Tranche and Elected Commitment of each Lender shall be as set forth on Annex I of this Amendment which Annex I supersedes and replaces the Annex I to the Credit Agreement. With respect to such reallocation, Applicable Percentages and Revolving Credit Exposures and (b) each Lender shall be deemed to have acquired the Exiting Lender’s assignment of its interests in the Commitments, Maximum Credit Amounts, Applicable Percentages Amount and Revolving Credit Exposures. The reassignments by Elected Commitment allocated to it from each of the Existing other Lenders and the assignment by the Exiting Lender necessary to effect the reallocation of the Commitments, Maximum Credit Amounts, Applicable Percentages and Revolving Credit Exposures are hereby consummated pursuant to the terms and provisions of this Thirteenth Amendment and Section 12.04(b), and the Borrower, the Administrative Agent, the Existing Lenders, and the Exiting Lender, hereby consummate such assignment and assumption pursuant to the terms, provisions and representations of the Assignment and Assumption Agreement attached as Exhibit G to the Credit Agreement as if each of them such Lender had executed and delivered an Assignment and Assumption Agreement with respect to such allocation. In connection with the Effective Date (as defined therein) being assignments in this Amendment and for purposes of such assignments only, the Thirteenth Amendment Effective Date; provided that Lenders, the New Lenders, the Administrative Agent hereby waives and the $3,500 Borrower waive the processing and recordation fee set forth in under Section 12.04(b)(ii)(C) with respect to such assignment and assumption. Annex I attached to the Credit Agreement is hereby deleted in its entirety and replaced by Axxxx X attached hereto).

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

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