Common use of Additional Swingline Lenders; Replacement of Swingline Lender Clause in Contracts

Additional Swingline Lenders; Replacement of Swingline Lender. Any Swingline Lender may be added or an existing Swingline Lender may be replaced at any time by written agreement among the Parent Borrower, the Agent and the relevant Swingline Lender(s). The Agent shall notify the Lenders of any such addition or replacement of a Swingline Lender. At the time any such replacement shall become effective, the Borrowers shall pay all unpaid interest accrued for the account of the replaced Swingline Lender pursuant to Section 2.13(a). From and after the effective date of any such addition or replacement, (x) the new Swingline Lender shall have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made thereafter and (y) references herein to the term “Swingline Lender” shall be deemed to refer to such new Swingline Lender, successor to any previous Swingline Lender, or to such successor and all previous Swingline Lenders, as the context shall require. After the replacement of a Swingline Lender hereunder, the replaced Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made by it prior to its replacement, but shall not be required to make additional Swingline Loans. (d)

Appears in 2 contracts

Samples: Credit Agreement (Dillard's, Inc.), Credit Agreement (Dillard's, Inc.)

AutoNDA by SimpleDocs

Additional Swingline Lenders; Replacement of Swingline Lender. Any Swingline Lender may be added or an existing Swingline Lender may be replaced at any time by written agreement among the Parent Borrower, the Agent and the relevant Swingline Lender(s). The Agent shall notify the Lenders of any such addition or replacement of a Swingline Lender. At the time any such replacement shall become effective, the Borrowers shall pay all unpaid interest accrued for the account of the replaced Swingline Lender pursuant to Section 2.13(a). From and after the effective date of any such addition or replacement, (x) the new Swingline Lender shall have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made thereafter and (y) references herein to the term “Swingline Lender” shall be deemed to refer to such new Swingline Lender, successor to any previous Swingline Lender, or to such successor and all previous Swingline Lenders, as the context shall require. After the replacement of a Swingline Lender hereunder, the replaced Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made by it prior to its replacement, but shall not be required to make additional Swingline Loans. (d).

Appears in 1 contract

Samples: Credit Agreement (Dillard's, Inc.)

AutoNDA by SimpleDocs

Additional Swingline Lenders; Replacement of Swingline Lender. Any Swingline Lender may be added or an existing Swingline Lender may be replaced at any time by written agreement among the Parent Borrower, the Administrative Agent and the relevant Swingline Lender(s). The Administrative Agent shall notify the Lenders of any such addition or replacement of a Swingline Lender. At the time any such replacement shall become effective, the Borrowers Borrower shall pay all unpaid interest accrued for the account of the replaced Swingline Lender pursuant to Section 2.13(a). From and after the effective date of any such addition or replacement, (x) the new Swingline Lender shall have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made thereafter and (y) references herein to the term ter m Swingline LenderS wi ngl ine L end er ” shall be deemed b e d ee med to refer r efe r to such new Swingline ne w S wi n gli ne Lender, successor or to any previous Swingline Lender, or to such successor and all previous Swingline Lenders, as the context shall require. After the replacement of a Swingline Lender hereunder, the replaced Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made by it prior to its replacement, but shall not be required to make additional Swingline Loans. (de)

Appears in 1 contract

Samples: Credit Agreement (Dillard's, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.