Agent’s Discretion. The Borrower acknowledges that the Agent’s discretion to act on certain matters is restricted by this Section 13.2 and accordingly, where an obligation of reasonableness is imposed on the Agent in circumstances where a consent, approval or agreement, as the case may be, requires the approval of all Lenders or the Required Lenders under this Section 13.2, the obligation to act reasonably shall be imposed severally upon each of the Lenders and not on the Agent.
Appears in 2 contracts
Samples: Syndicated Credit Agreement (Advantage Oil & Gas Ltd.), Syndicated Credit Agreement (Advantage Oil & Gas Ltd.)
Agent’s Discretion. The Borrower acknowledges that the Agent’s 's discretion to act on certain matters is restricted by this Section 13.2 and accordingly, where an obligation of reasonableness is imposed on the Agent in circumstances where a consent, approval or agreement, as the case may be, requires the approval of all Lenders, the Majority Lenders or a Majority of the Required Revolving Lenders under this Section 13.2, the obligation to act reasonably shall be imposed severally upon each of the Lenders and not on the Agent.
Appears in 2 contracts
Samples: Syndicated Credit Agreement (Enterra Energy Trust), Syndicated Credit Agreement (Enterra Energy Trust)
Agent’s Discretion. The Borrower acknowledges that the Agent’s discretion to act on certain matters is restricted by this Section 13.2 14.2 and accordingly, where an obligation of reasonableness is imposed on the Agent in circumstances where a consent, approval or agreement, as the case may be, requires the approval of all Lenders or the Required Lenders under this Section 13.214.2, the obligation to act reasonably shall be imposed severally upon each of the Lenders and not on the Agent.
Appears in 1 contract
Samples: Syndicated Credit Agreement (Advantage Oil & Gas Ltd.)
Agent’s Discretion. The Borrower acknowledges that the Agent’s 's discretion to act on certain matters is restricted by this Section 13.2 and accordingly, where an obligation of reasonableness is imposed on the Agent in circumstances where a consent, approval or agreement, as the case may be, requires the approval of all Lenders or the Required Majority Lenders under this Section 13.2, the obligation to act reasonably shall be imposed severally upon each of the Lenders and not on the Agent.. -92- Execution Form CAL_LAW\ 1265540\5
Appears in 1 contract
