Common use of Affected Banks Clause in Contracts

Affected Banks. If the Company is obligated to pay to any Bank or an Issuing Bank any amount under Section 4.08 or 4.09 or if any Bank is a Defaulting Bank, the Company may, if no Default or Event of Default then exists, replace such Bank with another bank or may replace such Issuing Bank with another letter of credit issuer in each case acceptable to the Administrative Agent and the Issuing Banks (other than such Issuing Bank), and such Bank or such Issuing Bank, as applicable, hereby agrees to be so replaced subject to the following: