Bank Amendment definition

Bank Amendment shall have the meaning given such term in Section 13 below.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Bank Amendment has the meaning set forth in Section 10.14.

Bank Amendment means the definitive documentation for the amendment to the Credit Agreement as contemplated under the heading “Recent Developments—Offering Transactions” in the Offering Memorandum.

Examples of Bank Amendment in a sentence

Except for an amendment fee payable to each lender under the Bank Credit Agreement equal to 0.05% of the commitment of such lender under the Bank Credit Agreement, no consideration or remuneration has been paid or will be paid to any agent or any lender under the Bank Credit Agreement as an inducement to enter into the Bank Amendment (as defined below).
This Amendment shall become effective as of the date (the “Effective Date”) upon which this Amendment has been executed and delivered by each party hereto concurrently with the effectiveness of the Bank Amendment and the Note Amendment.
The Noteholders acknowledge and consent to the execution, delivery and performance by the Company and the Guarantor of the Bank Amendment.
In accordance with Section 10.5(d) of the Intercreditor Agreement, each of the Current Noteholders hereby consents to the amendments set forth in the Bank Amendment attached hereto as Exhibit B.
As promptly ----------------------- as practicable after the execution of this Agreement, the Company shall negotiate in good faith with First Union the terms of the Required Bank Amendment.
The Company hereby certifies that (a) no Default or Event of Default under any Note Purchase Agreement will exist upon giving effect to this letter amendment and the Bank Amendment, and (b) the Bank Group is not receiving any remuneration for the Bank Amendment.
Pending resolution of such dispute, the Parties shall continue to diligently observe the terms and provisions of this Agreement without an increase in fees or charges payable to Bank by Company, if any, related to such Material Bank Amendment.
If any Bank Amendment results in a material increase in fees or charges payable to Bank by Company, or is otherwise material and adverse to Company as reasonably determined by Bank (collectively, a “Material Bank Amendment”), the notice of Bank Amendment sent by Bank to Company shall so specify.
The Company shall (a) consult with the Purchaser with respect to the terms and conditions of the Required Bank Amendment and (b) afford the Purchaser and its representatives the reasonable opportunity to participate in all negotiations relating to the Required Bank Amendment and the restructuring of the financing contemplated thereby.
In the event of a Material Bank Amendment to which Company objects, Company shall provide a written notice of objection to Bank (an “Objection Notice”) within thirty (30) days after Company’s receipt of written notice of such Material Bank Amendment from Bank.

More Definitions of Bank Amendment

Bank Amendment means the Seventh Amending Agreement to the Obsidian Energy Ltd. Amended and Restated Credit Agreement, made effective as of February 28, 2020, between, inter alios, the Company and Royal Bank of Canada, as Administrative Agent.

Bank Amendment means an amendment to the Bank Credit Agreement to be entered into by the Parent, the Company, the requisite Bank Lenders and Bank of America, as administrative agent for the Bank Lenders, within 45 days following the date of this Agreement. For the avoidance of doubt, the Bank Amendment will not be deemed to include any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof or of the Bank Credit Agreement that occur more than 45 days following the date of this Agreement.

Bank Amendment means Amendment No. 3 to Credit Agreement dated as of January 24, 1997 by and among the Company, the lenders party thereto and Bank of America Illinois, as Agent.