Designation of Additional Issuing Banks. From time to time, the Borrower may designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided herein. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such Lender, the Borrower and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank, and (iii) such Issuing Bank shall have the LC Issuance Limit set forth in such Issuing Bank Agreement and Annex III shall be deemed to be automatically be amended to reflect such LC Issuance Limit.
Appears in 4 contracts
Sources: Credit Agreement (Centennial Resource Development, Inc.), Credit Agreement (Centennial Resource Development, Inc.), Credit Agreement (Centennial Resource Development, Inc.)
Designation of Additional Issuing Banks. From time to time, the Borrower may may, by notice to the Administrative Agent and the Lenders, designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such Lender, the Borrower and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Documents and (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank, and (iii) such Issuing Bank shall have the LC Issuance Limit set forth in such Issuing Bank Agreement and Annex III shall be deemed to be automatically be amended to reflect such LC Issuance Limit.
Appears in 4 contracts
Sources: Credit Agreement (Southwestern Energy Co), Credit Agreement (Southwestern Energy Co), Credit Agreement
Designation of Additional Issuing Banks. From The Borrower may, at any time and from time to timetime with notice to the Administrative Agent, the Borrower may designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent Revolving Lenders, that agree to serve in such capacity as provided hereinbelow. The acceptance by a Revolving Lender of any an appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”)agreement, which shall be in a form and substance reasonably satisfactory to the Borrower Administrative Agent and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such Lender, the Borrower and shall specify the LC Commitment of such Issuing Bank, executed by the Borrower, the Administrative Agent and such designated Revolving Lender and, from and after the effective date of such Issuing Bank Agreementagreement, (i) such Revolving Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Revolving Lender in its capacity as an Issuing Bankissuer of Letters of Credit hereunder. In addition, and (iii) such solely with respect to the Existing Letters of Credit set forth on Schedule 1.04, each issuing bank thereof may, to the extent it is not an Issuing Bank under this Agreement on the Effective Date, become an Issuing Bank hereunder with respect to the Existing Letters of Credit issued by it by executing and delivering to the Administrative Agent a duly executed counterpart to this Agreement, whereupon such issuing bank shall have the LC Issuance Limit set forth constitute an Issuing Bank for all purposes hereof with respect to such Existing Letters of Credit as if originally a party hereto in such Issuing Bank Agreement and Annex III shall be deemed to be automatically be amended to reflect such LC Issuance Limitcapacity.
Appears in 3 contracts
Sources: Credit Agreement (Arconic Corp), Credit Agreement (Arconic Inc.), Credit Agreement (Arconic Rolled Products Corp)
Designation of Additional Issuing Banks. From time to time, the Borrower may may, by notice to the Administrative Agent, designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent Lenders, or such Lenders’ Affiliates, that agree to serve in such capacity as provided hereinbelow and are acceptable to the Administrative Agent. The acceptance by a Lender or such Lender’s Affiliate of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such Lender or such Lender’s Affiliate, the Borrower Borrower, and the Administrative Agent and, from Agent. From and after the effective date of such Issuing Bank Agreementagreement, (i) such Lender or such Lender’s Affiliate shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Credit Documents and (ii) references herein and in the other Loan Credit Documents to the term “Issuing Bank” shall be deemed to include such Lender or such Lender’s Affiliate in its capacity as an Issuing Bank, . The Issuing Bank Agreement of any Issuing Bank may limit the total stated amounts and (iii) the currencies in which such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Transocean Ltd.), Credit Agreement (Transocean Ltd.)
Designation of Additional Issuing Banks. From time to time, the Borrower may designate as additional Issuing Banks one or more Revolving Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided herein. The acceptance by a Revolving Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Revolving Lender and shall be executed by such Revolving Lender, the Borrower and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreement, (i) such Revolving Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Revolving Lender in its capacity as an Issuing Bank, and (iii) such Issuing Bank shall have the LC Issuance Limit set forth in such Issuing Bank Agreement and Annex III shall be deemed to be automatically be amended to reflect such LC Issuance Limit.
Appears in 2 contracts
Sources: Credit Agreement (Permian Resources Corp), Credit Agreement (Permian Resources Corp)
Designation of Additional Issuing Banks. From time to time, US Borrower may, by notice to the Borrower may Administrative Agent, designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent US Lenders, or such US Lenders’ Affiliates, that agree to serve in such capacity as provided hereinbelow and are acceptable to the Administrative Agent. The acceptance by a US Lender or such US Lender’s Affiliate of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the US Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such US Lender or such US Lender’s Affiliate, the Borrower US Borrower, and the Administrative Agent and, from Agent. From and after the effective date of such Issuing Bank Agreementagreement, (i) such US Lender or such US Lender’s Affiliate shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Credit Documents and (ii) references herein and in the other Loan Credit Documents to the term “Issuing Bank” shall be deemed to include such US Lender or such US Lender’s Affiliate in its capacity as an Issuing Bank, . The Issuing Bank Agreement of any Issuing Bank may limit the total stated amounts and (iii) the currencies in which such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD)
Designation of Additional Issuing Banks. From time to time, the Borrower Company may by notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower Company and the Administrative Agent, that shall set forth the LC Issuance Limit Commitment of such Lender and shall be executed by such Lender, the Borrower Company and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreementagreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank, . The Issuing Bank Agreement of any Issuing Bank may limit the currencies in which and (iii) the Borrowers for the accounts of which such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Brown Forman Corp), Credit Agreement (Brown Forman Corp)
Designation of Additional Issuing Banks. From time to time, the Borrower Borrowers may by notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower Borrowers and the Administrative Agent, shall set forth the LC Issuance Limit Commitment of such Lender and shall be executed by such Lender, the Borrower Borrowers and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Documents and (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank. Following designation of an additional Issuing Bank in accordance with this Section 3.01(k), and (iii) the Administrative Agent shall amend Schedule 1.01B to reflect the addition of such Issuing Bank shall have the and such Issuing Bank’s LC Issuance Limit set forth Commitment as provided in such Issuing Bank’s Issuing Bank Agreement and Annex III shall be deemed to be automatically be amended to reflect such LC Issuance LimitAgreement.
Appears in 1 contract
Designation of Additional Issuing Banks. From time to time, the Borrower Company may by notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower Company and the Administrative Agent, that shall set forth the LC Issuance Limit Commitment of such Lender and shall be executed by such Lender, the Borrower Company and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreementagreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank. The Issuing Bank Agreement of any Issuing Bank may limit the currencies in which, and (iii) the Borrowers for the accounts of which, such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Brown Forman Corp)
Designation of Additional Issuing Banks. From time to time, the Borrower Borrowers may by notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or more Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be in a form reasonably satisfactory to the Borrower Borrowers and the Administrative Agent, shall set forth the LC Issuance Limit Commitment of such Lender and shall be executed by such Lender, the Borrower Borrowers and the Administrative Agent and, from and after the effective date of such Issuing Bank Agreementagreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Documents and (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing Bank, . The Issuing Bank Agreement of any Issuing Bank may limit the currencies in which and (iii) the Borrowers for the accounts of which such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 1 contract
Designation of Additional Issuing Banks. From The Borrowers may, at any time and from time to time, with the Borrower may consent of the Administrative Agent (which consent shall not be unreasonably withheld), designate as additional Issuing Banks one or more Revolving Lenders which are reasonably acceptable to the Administrative Agent that agree to serve in such capacity as provided hereinbelow. The acceptance by a Revolving Lender of any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an the “Issuing Bank Agreement”), which shall be in a form and substance reasonably satisfactory to the Borrower and the Administrative Agent, shall set forth the LC Issuance Limit of such Lender and shall be executed by such Lenderthe Borrowers, the Borrower and the Administrative Agent and such designated Revolving Lender and, from and after the effective date of such Issuing Bank Agreementagreement, (i) such Revolving Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents, Documents and (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include such Revolving Lender in its capacity as an Issuing Bank, and (iii) . The Issuing Bank Agreement of any Issuing Bank may limit the currencies in which such Issuing Bank shall have the LC Issuance Limit set forth in will issue Letters of Credit, and any such limitations will, as to such Issuing Bank Agreement and Annex III shall Bank, be deemed to be automatically be amended to reflect such LC Issuance Limitincorporated in this Agreement.
Appears in 1 contract