Common use of Addition and Termination of Borrowers Clause in Contracts

Addition and Termination of Borrowers. (a) Everest Group may from time to time after the Restatement Effective Date designate one or more Subsidiaries as an additional Borrower. The effective date of any designation of an additional Borrower shall be the date upon which each of the conditions set forth in Section 4.2 and the following terms and conditions shall have been satisfied or waived in accordance with the terms of this Agreement (the "Designation Date"): (i) On or prior to the applicable Designation Date, each such Person shall enter into an appropriately completed Assumption Agreement; (ii) If such Person is organized in a jurisdiction other than Bermuda or the United States, each Lender shall have consented to such designation; and (iii) On or prior to the applicable Designation Date, the Administrative Agent shall have received from such Person the items required to be delivered under Sections 4.1(a), 4.1(b) and 4.1(g) with respect to such Person in substantially the same form delivered to the Administrative Agent on the Restatement Effective Date. (b) So long as (i) the principal of and interest on any Loans made to any Subsidiary Borrower under this Agreement shall have been repaid or paid in full, (ii) no Letters of Credit shall be outstanding for the account of such Subsidiary Borrower, and (iii) no other Obligations of such Subsidiary Borrower shall remain outstanding, Everest Group may, by not less than two Business Days' prior written notice to the Administrative Agent (which shall promptly notify the Lenders thereof), terminate such Subsidiary's status as a "Subsidiary Borrower" hereunder.

Addition and Termination of Borrowers. (a) Everest Group may from time to time after the Restatement Effective Date designate one or more Subsidiaries as an additional Borrower. The effective date of any designation of an additional Borrower shall be the date upon which each of the conditions set forth in Section 4.2 and the following terms and conditions shall have been satisfied or waived in accordance with the terms of this Agreement (the "“Designation Date"”): (i) On or prior to the applicable Designation Date, each such Person shall enter into an appropriately completed Assumption Agreement; (ii) If such Person is organized in a jurisdiction other than Bermuda or the United States, each Lender shall have consented to such designation; and (iii) On or prior to the applicable Designation Date, the Administrative Agent shall have received from such Person the items required to be delivered under Sections 4.1(a), 4.1(b) and 4.1(g) with respect to such Person in substantially the same form delivered to the Administrative Agent on the Restatement Effective Date. (b) So long as (i) the principal of and interest on any Loans made to any Subsidiary Borrower under this Agreement shall have been repaid or paid in full, (ii) no Letters of Credit shall be outstanding for the account of such Subsidiary Borrower, and (iii) no other Obligations of such Subsidiary Borrower shall remain outstanding, Everest Group may, by not less than two Business Days' ’ prior written notice to the Administrative Agent (which shall promptly notify the Lenders thereof), terminate such Subsidiary's ’s status as a "“Subsidiary Borrower" ” hereunder.

Addition and Termination of Borrowers. (a) Everest Group may from time to time after the Restatement Effective Date designate one or more Subsidiaries as an additional Borrower. The effective date of any designation of an additional Borrower shall be the date upon which each of the conditions set forth in Section 4.2 and the following terms and conditions shall have been satisfied or waived in accordance with the terms of this Agreement (the "“Designation Date"”): (i) On or prior to the applicable Designation Date, each such Person shall enter into an appropriately completed Assumption Agreement; (ii) If such Person is organized in a jurisdiction other than Bermuda or the United States, each Lender shall have consented to such designation; and (iiiii) On or prior to the applicable Designation Date, the Administrative Agent shall have received from such Person Person, the items required to be delivered under Sections 4.1(a), 4.1(b) and 4.1(g4.1(b) with respect to such Person in substantially the same form delivered to the Administrative Agent on the Restatement Effective Date. (b) So long as (i) the principal of and interest on any Loans made to any Subsidiary Borrower under this Agreement shall have been repaid or paid in full, (ii) no Letters of Credit shall be outstanding for the account of such Subsidiary Borrower, and (iii) no other Obligations of such Subsidiary Borrower shall remain outstanding, Everest Group may, by not less than two Business Days' ’ prior written notice to the Administrative Agent (which shall promptly notify the Lenders thereof), terminate such Subsidiary's ’s status as a "“Subsidiary Borrower" ” hereunder.

Addition and Termination of Borrowers. (a) Everest Group may from time to time after the Restatement Effective Closing Date designate one or more Subsidiaries as an additional Borrower. The effective date of any designation of an additional Borrower shall be the date upon which each of the conditions set forth in Section 4.2 and the following terms and conditions shall have been satisfied or waived in accordance with the terms of this Agreement (the "“Designation Date"”): (i) On or prior to the applicable Designation Date, each such Person shall enter into an appropriately completed Assumption Agreement; (ii) If such Person is organized in a jurisdiction other than Bermuda or the United States, each Lender shall have consented to such designation; and (iiiii) On or prior to the applicable Designation Date, the Administrative Agent shall have received from such Person Person, the items required to be delivered under Sections 4.1(a), 4.1(b) and 4.1(g4.1(b) with respect to such Person in substantially the same form delivered to the Administrative Agent on the Restatement Effective Closing Date. (b) So long as (i) the principal of and interest on any Loans made to any Subsidiary Borrower under this Agreement shall have been repaid or paid in full, (ii) no Letters of Credit shall be outstanding for the account of such Subsidiary Borrower, and (iii) no other Obligations of such Subsidiary Borrower shall remain outstanding, Everest Group may, by not less than two Business Days' ’ prior written notice to the Administrative Agent (which shall promptly notify the Lenders thereof), terminate such Subsidiary's ’s status as a "“Subsidiary Borrower" ” hereunder.