Reallocation of Commitments. Effective on the Amendment Effective Date, the Administrative Agent, the Borrower, the Lenders, the Swing Line Lender and the Issuing Bank consent to the following: (i) the reallocation of the Maximum Credit Amounts so that each Lender’s Maximum Credit Amount, Elected Commitment and Applicable Percentage is as set forth on Annex I attached hereto and (ii) the reallocation of the participations in any Letters of Credit and Swing Line Loans in accordance with each Lender’s Applicable Percentage as set forth on Annex I attached hereto. On the Amendment Effective Date after giving effect to such reallocation of the Maximum Credit Amounts, the Maximum Credit Amount, Elected Commitment and Applicable Percentage of each Lender shall be as set forth on Annex I attached hereto. The reallocation of the Maximum Credit Amounts and Elected Commitments among the Lenders shall be deemed to have been consummated on the Amendment Effective Date pursuant to the terms of the Assignment and Assumption attached as Exhibit F to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation. The Administrative Agent hereby waives the $3,500.00 processing fee set forth in Section 12.04(b)(ii)(C) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 4.
Appears in 1 contract
Sources: Credit Agreement (SRC Energy Inc.)
Reallocation of Commitments. Effective on the Amendment Effective Date, notwithstanding the requirement in Section 2.07(d) of the Credit Agreement that each reduction of the aggregate Commitment amounts be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage (which requirement is hereby waived by the Administrative Agent, the Borrower, the LendersLenders and the Issuing Bank), the Swing Line Lender Administrative Agent, the Borrower and the Lenders and the Issuing Bank consent to the following: (i) the reallocation of the Maximum Credit Amounts so that each Lender’s Maximum Credit Amount, Elected Commitment Amount and Applicable Percentage is as set forth on Annex I attached hereto and (ii) the reallocation of the participations in any Letters of Credit and Swing Line Loans in accordance with each Lender’s Applicable Percentage as set forth on Annex I attached hereto. On the Amendment Effective Date after giving effect to such reallocation of the Maximum Credit Amounts, the Maximum Credit Amount, Elected Commitment Amount and Applicable Percentage of each Lender shall be as set forth on Annex I attached hereto. The reallocation of the Maximum Credit Amounts and Elected Commitments among the Lenders shall be deemed to have been consummated on the Amendment Effective Date pursuant to the terms of the Assignment and Assumption attached as Exhibit F to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation. The Administrative Agent hereby waives the $3,500.00 processing fee set forth in Section 12.04(b)(ii)(C) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 4.
Appears in 1 contract
Sources: Credit Agreement (SRC Energy Inc.)
Reallocation of Commitments. Effective on the Amendment Effective Date, the :
(a) The Administrative Agent, the Borrower, Borrower and the Lenders, the Swing Line Lender Lenders and the Issuing Bank consent to the following: (i) the reallocation of the Maximum Credit Amounts so that each Lender’s Maximum Credit Amount, Elected Commitment and Applicable Percentage Amount is as set forth on Annex I attached hereto and (ii) the reallocation of the participations in any Letters of Credit and Swing Line Loans in accordance with each Lender’s Applicable Percentage as set forth on Annex I attached hereto. On the Amendment Effective Date after giving effect to such reallocation of the Maximum Credit Amounts, the Maximum Credit Amount, Elected Commitment Amount and Applicable Percentage of each Lender shall be as set forth on Annex I attached hereto. The reallocation of the Maximum Credit Amounts and Elected Commitments among the Lenders shall be deemed to have been consummated on the Amendment Effective Date pursuant to the terms of the Assignment and Assumption attached as Exhibit F to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation. The Administrative Agent hereby waives the $3,500.00 processing fee set forth in Section 12.04(b)(ii)(C) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 4.
(b) If, as a result of the reallocation effected under this Section 4, any Lender incurs any losses, cost or expense as a result of any payment of any principal of any Eurodollar Loan prior to the last day of the Interest Period applicable thereto (whether by the Borrower or by reallocation of the outstanding amount of principal of any Eurodollar Loans under the Credit Agreement to effect the assignments provided herein) and such Lender makes a request for compensation, the Borrower shall compensate the Lender in accordance with Section 5.02 of the Credit Agreement.
Appears in 1 contract
Reallocation of Commitments. Effective on the Amendment Effective Date, the Administrative Agent, the Borrower, the Lenders, the Swing Line Lender and the Issuing Bank consent to the following: (i) the reallocation of the Maximum Credit Amounts so that each Lender’s Maximum Credit Amount, Elected Commitment and Applicable Percentage is as set forth on Annex I attached hereto and (ii) the reallocation of the participations in any Letters of Credit and Swing Line Loans in accordance with each Lender’s Applicable Percentage as set forth on Annex I attached hereto. On the Amendment Effective Date after giving effect to such reallocation of the Maximum Credit Amounts, the Maximum Credit Amount, Elected Commitment and Applicable Percentage of each Lender shall be as set forth on Annex I attached hereto. The reallocation of the Maximum Credit Amounts and Elected Commitments among the Lenders shall be deemed to have been consummated on the Amendment Effective Date pursuant to the terms of the Assignment and Assumption attached as Exhibit F to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation. The Administrative Agent hereby waives the $3,500.00 processing fee set forth in Section 12.04(b)(ii)(C) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 4. SECTION 5.
Appears in 1 contract
Sources: Credit Agreement