Springing Lien. In the event that (i) any Event of Default has occurred and is continuing or (ii) at any time after August 3, 1999 the sum of (A) aggregate Commitments under this Agreement plus (B) the aggregate "Commitments" under the 364 Day Credit Facility, exceeds $1,050,000,000, then, without affecting in any way any other rights of the Lenders hereunder, the Administrative Agent, at the direction of the Required Lenders, may request that the Borrower, and the Borrower agrees to: (i) duly execute and deliver to the Administrative Agent (or such other Person designated by the Administrative Agent) the Security Documents and cause each such Security Document to be filed, registered and
Appears in 2 contracts
Sources: Credit Facility Agreement (Pioneer Natural Resources Co), Credit Facility Agreement (Pioneer Natural Resources Usa Inc)