Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty (20) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s sole discretion, to such requests on behalf of such Lender as such Lenders’ attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposes.
Appears in 14 contracts
Samples: Restructuring Support Agreement (Washington Prime Group, L.P.), Term Loan Agreement (Washington Prime Group, L.P.), Revolving Credit and Term Loan Agreement (Washington Prime Group, L.P.)
Administrative Agent Authority. The Subject to the second succeeding sentence of this subsection (d), the Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty fifteen (2015) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, then such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s 's sole discretion, to such requests on behalf of such Lender as such Lenders’ Lender's attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s 's duly authorized agent for such purposes; provided, however, that such request shall state, in capital letters that "FAILURE TO RESPOND TO THIS REQUEST WITHIN FIFTEEN (15) DAYS AFTER RECEIPT, SHALL BE DEEMED AUTHORIZATION TO THE ADMINISTRATIVE AGENT WITH RESPECT TO THE ENCLOSED REQUEST".
Appears in 4 contracts
Samples: Revolving Credit Agreement (Reckson Associates Realty Corp), Term Loan Agreement (Reckson Associates Realty Corp), Term Loan Agreement (Reckson Associates Realty Corp)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.714.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent hereunder or under this Agreement and the other Loan Documents, including this Article XIII, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action; and the order of priority set forth in clauses first and second and the second clause first of Section 3.02(b)(i)(B) and clauses (A), (B) and (C) of Section 3.02(b)(ii). Notwithstanding anything herein to the contrary, in the event that the a Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documentshereof, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its it being understood that any such statement of agreement, agreement may be subject to satisfactory documentation and other conditions specified in such statement) within thirty (30) days of receipt of such request (or such other conditions it time period as may specify) within twenty (20) days after be designated in such amendment, modification, waiver or consent), then such Lender receives shall be deemed to have disagreed with such request. Furthermore, thenin the event that any Lender fails to agree to any amendment, modification, waiver or consent requiring the unanimous approval of the Lenders pursuant to Section 14.07(c), at the joint request of any Borrower and the Administrative Agent, the Lenders who have so agreed shall have the right (but not the obligation) to, or to cause an Eligible Assignee to, purchase from such Lender (at the face amount thereof) all Obligations and Commitments held by such Lender. Each Lender agrees the if the Administrative Agent or any Borrower exercises its option hereunder, it shall promptly execute and deliver a second request, all agreements and documentation necessary to effectuate such assignment as set forth in writing, Section 14.01. Any purchase of such Lender’s Commitments and all other Obligations owing to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN it must (10i) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If occur within 30 Business Days from the date that such Lender shall have failed refuses to stateexecute any amendment, in writing, that it either agrees waiver or disagrees (in full or in part) with consent which requires the written consent of all such requests (in of the case of its statement of agreement, subject Lenders and to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in which the Administrative Agent’s sole discretion, the other Lenders and the Borrowers have agreed and (ii) include an amount payable to such requests on behalf of Lender which is sufficient to compensate such Lender for any loss, expense or liability as a result of any such Lenders’ attorney-in-fact and purchase under this Section 14.07(e) which arises out of, or is in connection with, any funds acquired by such Lender to execute and deliver make, continue or maintain any writing approved by portion of the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposesprincipal amount of any Loan as, or to convert any portion of the principal amount of any Loan into, a Fixed Rate Loan.
Appears in 2 contracts
Samples: Credit Agreement (Nacco Industries Inc), Credit Agreement (NMHG Holding Co)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower Borrowers shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty (20) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s sole discretion, to such requests on behalf of such Lender as such Lenders’ attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposes.
Appears in 2 contracts
Samples: Senior Secured Term Loan Agreement (Washington Prime Group, L.P.), Senior Secured Term Loan Agreement (Washington Prime Group, L.P.)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.713.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent as Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, and no amendment, modification, waiver or consent shall affect the rights or duties of the Issuing Lender under this Agreement and the other Loan Documents, unless made in writing, and signed by the Issuing Lender in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty (20) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other reasonable conditions it may specify) within ten (10) days Business Days after such Lender receives such request, then, then such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s 's sole discretion, to such requests on behalf of such Lender as such Lenders’ Lender's attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s 's duly authorized agent for such purposes.
Appears in 1 contract
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7SECTION 13.7, (i) no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent as Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, (ii) no amendment, modification, waiver or consent shall affect Section 11.11 of this Agreement unless made in writing and signed by the Co-Syndication Agents, the Co-Documentation Agents and the Co-Arrangers in addition to the Lenders required above to take such action and (iii) no amendment, modification, waiver or consent shall affect the rights or duties of the Issuing Lender or the Swing Lender under this Agreement and the other Loan Documents, unless made in writing, and signed by the Issuing Lender or the Swing Lender, as applicable, in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other reasonable conditions it may specify) within twenty fifteen (2015) days Business Days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, then such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s 's sole discretion, to such requests on behalf of such Lender as such Lenders’ Lender's attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s 's duly authorized agent for such purposes; PROVIDED, HOWEVER, that such request shall state, in capital letters that "FAILURE TO RESPOND TO THIS REQUEST WITHIN FIFTEEN (15) BUSINESS DAYS AFTER RECEIPT, SHALL BE DEEMED CONSENT TO THE ENCLOSED REQUEST."
Appears in 1 contract
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.714.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent hereunder or under this Agreement and the other Loan Documents, including this Article XIV, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action; and the order of priority set forth in clause first of Section 3.02(b)(ii) and clauses (A) and (B) of Section 3.02(b)(iii). Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documentshereof, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its it being understood that any such statement of agreement, agreement may be subject to satisfactory documentation and other conditions specified in such statement) within thirty (30) days of receipt of such request (or such other conditions it time period as may specify) within twenty (20) days after be designated in such amendment, modification, waiver or consent), then such Lender receives shall be deemed to have disagreed with such request. Furthermore, thenin the event that any Lender fails to agree to any amendment, modification, waiver or consent requiring the unanimous approval of the Lenders pursuant to Section 14.07(c), at the joint request of Borrower and the Administrative Agent, the Lenders who have so agreed shall have the right (but not the obligation) to, or to cause an Eligible Assignee to, purchase at par from such Lender (at the face amount thereof) all Obligations and Commitments held by such Lender. Each Lender agrees that if the Administrative Agent or Borrower exercises its option hereunder, it shall promptly execute and deliver a second request, all agreements and documentation necessary to effectuate such assignment as set forth in writing, Section 14.01. Any purchase of such Lender’s Commitments and all other Obligations owing to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN it must (10i) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If occur within 30 Business Days from the date that such Lender shall have failed refuses to stateexecute any amendment, in writing, that it either agrees waiver or disagrees (in full or in part) with consent which requires the written consent of all such requests (in of the case of its statement of agreement, subject Lenders and to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in which the Administrative Agent’s sole discretion, the other Lenders and Borrower have agreed and (ii) include an amount payable to such requests on behalf of Lender which is sufficient to compensate such Lender for any loss, expense or liability as a result of any such Lenders’ attorney-in-fact and purchase under this Section 14.07(d) which arises out of, or is in connection with, any funds acquired by such Lender to execute and deliver make, continue or maintain any writing approved by portion of the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposesprincipal amount of any Loan as, or to convert any portion of the principal amount of any Loan into, a Fixed Rate Loan.
Appears in 1 contract
Samples: Credit Agreement (NMHG Holding Co)
Administrative Agent Authority. The Subject to the second succeeding sentence of this subsection (d), the Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty fifteen (2015) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, then such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s 's sole discretion, to such requests on behalf of such Lender as such Lenders’ Lender's attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s 's duly authorized agent for such purposes; PROVIDED, HOWEVER, that such request shall state, in capital letters that "FAILURE TO RESPOND TO THIS REQUEST WITHIN FIFTEEN (15) DAYS AFTER RECEIPT, SHALL BE DEEMED AUTHORIZATION TO THE ADMINISTRATIVE AGENT WITH RESPECT TO THE ENCLOSED REQUEST".
Appears in 1 contract
Samples: Credit Agreement (Reckson Operating Partnership Lp)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.713.7, (i) no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent as Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, (ii) no amendment, modification, waiver or consent shall affect Section 11.11 of this Agreement unless made in writing and signed by the Co-Syndication Agents, the Co-Documentation Agents and the Co-Arrangers in addition to the Lenders required above to take such action and (iii) no amendment, modification, waiver or consent shall affect the rights or duties of the Issuing Lender or the Swing Lender under this Agreement and the other Loan Documents, unless made in writing, and signed by the Issuing Lender or the Swing Lender, as applicable, in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other reasonable conditions it may specify) within twenty fifteen (2015) days Business Days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, then such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s sole discretion, to such requests on behalf of such Lender as such Lenders’ Lender’s attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposes; provided, however, that such request shall state, in capital letters that “FAILURE TO RESPOND TO THIS REQUEST WITHIN FIFTEEN (15) BUSINESS DAYS AFTER RECEIPT, SHALL BE DEEMED CONSENT TO THE ENCLOSED REQUEST.”
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mills Corp)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7SECTION 14.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent hereunder or under this Agreement and the other Loan Documents, including this ARTICLE XIII, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action; and the order of priority set forth in CLAUSES FIRST and SECOND and the second CLAUSE FIRST of SECTION 3.02(b)(i)(B) and CLAUSES (a), (b) AND (c) of SECTION 3.02(b)(ii). Notwithstanding anything herein to the contrary, in the event that the a Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documentshereof, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its it being understood that any such statement of agreement, agreement may be subject to satisfactory documentation and other conditions specified in such statement) within thirty (30) days of receipt of such request (or such other conditions it time period as may specify) within twenty (20) days after be designated in such amendment, modification, waiver or consent), then such Lender receives shall be deemed to have disagreed with such request. Furthermore, thenin the event that any Lender fails to agree to any amendment, modification, waiver or consent requiring the unanimous approval of the Lenders pursuant to SECTION 14.07(c), at the joint request of any Borrower and the Administrative Agent, the Lenders who have so agreed shall have the right (but not the obligation) to, or to cause an Eligible Assignee to, purchase from such Lender (at the face amount thereof) all Obligations and Commitments held by such Lender. Each Lender agrees the if the Administrative Agent or any Borrower exercises its option hereunder, it shall promptly execute and deliver a second request, all agreements and documentation necessary to effectuate such assignment as set forth in writing, SECTION 14.01. Any purchase of such Lender's Commitments and all other Obligations owing to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN it must (10i) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If occur within 30 Business Days from the date that such Lender shall have failed refuses to stateexecute any amendment, in writing, that it either agrees waiver or disagrees (in full or in part) with consent which requires the written consent of all such requests (in of the case of its statement of agreement, subject Lenders and to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in which the Administrative Agent’s sole discretion, the other Lenders and the Borrowers have agreed and (ii) include an amount payable to such requests on behalf of Lender which is sufficient to compensate such Lender for any loss, expense or liability as a result of any such Lenders’ attorney-in-fact and purchase under this SECTION 14.07(d) which arises out of, or is in connection with, any funds acquired by such Lender to execute and deliver make, continue or maintain any writing approved by portion of the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposesprincipal amount of any Loan as, or to convert any portion of the principal amount of any Loan into, a Fixed Rate Loan.
Appears in 1 contract
Samples: Credit Agreement (Hyster Overseas Capital Corp LLC)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.7, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent under this Agreement and the other Loan Documents, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within twenty (20) days after such Lender receives such request, then, the Administrative Agent shall deliver a second request, in writing, to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN (10) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. .” If such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in the Administrative Agent’s sole discretion, to such requests on behalf of such Lender as such Lenders’ attorney-in-fact and to execute and deliver any writing approved by the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposes.
Appears in 1 contract
Samples: 364 Day Bridge Term Loan Agreement (Washington Prime Group Inc.)
Administrative Agent Authority. The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 14.714.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Administrative Agent hereunder or under this Agreement and the other Loan Documents, including this Article XIII, unless made in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action; and the order of priority set forth in clauses first and second and the second clause first of Section 3.02(b)(i)(B) and clauses (A), (B) and (C) of Section 3.02(b)(ii). Notwithstanding anything herein to the contrary, in the event that the a Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documentshereof, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its it being understood that any such statement of agreement, agreement may be subject to satisfactory documentation and other conditions specified in such statement) within thirty (30) days of receipt of such request (or such other conditions it time period as may specify) within twenty (20) days after be designated in such amendment, modification, waiver or consent), then such Lender receives shall be deemed to have disagreed with such request. Furthermore, thenin the event that any Lender fails to agree to any amendment, modification, waiver or consent requiring the unanimous approval of the Lenders pursuant to Section 14.07(d), at the joint request of any Borrower and the Administrative Agent, the Lenders who have so agreed shall have the right (but not the obligation) to, or to cause an Eligible Assignee to, purchase from such Lender (at the face amount thereof) all Obligations and Commitments held by such Lender. Each Lender agrees the if the Administrative Agent or any Borrower exercises its option hereunder, it shall promptly execute and deliver a second request, all agreements and documentation necessary to effectuate such assignment as set forth in writing, Section 14.01. Any purchase of such Lender's Commitments and all other Obligations owing to any such Lender(s), which second request shall include a legend, in capital letters, stating “FAILURE TO RESPOND, IN WRITING, TO THIS REQUEST WITHIN TEN it must (10i) DAYS AFTER RECEIPT MAY RESULT IN THE ADMINISTRATIVE AGENT CONSENTING OR DENYING CONSENT TO SUCH REQUEST ON YOUR BEHALF”. If occur within 30 Business Days from the date that such Lender shall have failed refuses to stateexecute any amendment, in writing, that it either agrees waiver or disagrees (in full or in part) with consent which requires the written consent of all such requests (in of the case of its statement of agreement, subject Lenders and to satisfactory documentation and such other conditions it may specify) within ten (10) days after such Lender receives such request, then, such Lender hereby irrevocably authorizes the Administrative Agent to agree or disagree, in full or in part, and in which the Administrative Agent’s sole discretion, the other Lenders and the Borrowers have agreed and (ii) include an amount payable to such requests on behalf of Lender which is sufficient to compensate such Lender for any loss, expense or liability as a result of any such Lenders’ attorney-in-fact and purchase under this Section 14.07(e) which arises out of, or is in connection with, any funds acquired by such Lender to execute and deliver make, continue or maintain any writing approved by portion of the Administrative Agent which evidences such agreement as such Lender’s duly authorized agent for such purposesprincipal amount of any Loan as, or to convert any portion of the principal amount of any Loan into, a Fixed Rate Loan.
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