Appointment by Requisite Lenders. Upon any such resignation becoming effective, (i) if an Arranger shall then be acting with respect to this Agreement, such Arranger shall become the Administrative Agent or (ii) if no Arranger shall then be acting with respect to this Agreement, the Requisite Lenders shall have the right to appoint a successor Administrative Agent selected from among the Lenders with the prior written consent of the Borrower (so long as no Event of Default then exists), which consent shall not be unreasonably withheld.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Reckson Associates Realty Corp), Credit Agreement (Reckson Operating Partnership Lp), Credit Agreement (Reckson Operating Partnership Lp)
Appointment by Requisite Lenders. Upon any such resignation becoming effective, (i) if an a Arranger shall then be acting with respect to this Agreement, such Arranger shall become the Administrative Agent or (ii) if no Arranger shall then be acting with respect to this Agreement, the Requisite Lenders shall have the right to appoint a successor Administrative Agent selected from among the Lenders with the prior written consent of the Borrower (so long as no Event of Default then exists), which consent shall not be unreasonably withheld.
Appears in 3 contracts
Samples: Credit Agreement (Reckson Services Industries Inc), Credit Agreement (Reckson Associates Realty Corp), Credit Agreement (Reckson Associates Realty Corp)
Appointment by Requisite Lenders. Upon any such resignation -------------------------------- becoming effective, (i) if an the Arranger shall then be acting with respect to this Agreement, such the Arranger shall become the Administrative Agent or (ii) if no Arranger shall then be acting with respect to this Agreement, the Requisite Lenders shall have the right to appoint a successor Administrative Agent selected from among the Lenders with the prior written consent of the Borrower (so long as no Event of Default then exists), which consent shall not be unreasonably withheld.
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Appointment by Requisite Lenders. Upon any such resignation -------------------------------- becoming effective, (i) if an a Arranger shall then be acting with respect to this Agreement, such Arranger shall become the Administrative Agent or (ii) if no Arranger shall then be acting with respect to this Agreement, the Requisite Lenders shall have the right to appoint a successor Administrative Agent selected from among the Lenders with the prior written consent of the Borrower (so long as no Event of Default then exists), which consent shall not be unreasonably withheld.
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Appointment by Requisite Lenders. Upon any such -------------------------------- resignation becoming effective, (i) if an a Arranger shall then be acting with respect to this Agreement, such Arranger shall become the Administrative Agent or (ii) if no Arranger shall then be acting with respect to this Agreement, the Requisite Lenders shall have the right to appoint a successor Administrative Agent selected from among the Lenders with the prior written consent of the Borrower (so long as no Event of Default then exists), which consent shall not be unreasonably withheld.
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