Common use of Assignments by Swingline Lenders Clause in Contracts

Assignments by Swingline Lenders. In the case of any assignment by any Swingline Lender of any of its commitment to make Swingline Loans hereunder where the assignee party has not assumed such Swingline Lender’s commitment to make Swingline Loans, such Swingline Lender shall retain all of the rights powers and privileges of a “Swingline Lender” hereunder, including the right to require the Revolving Lenders to make Revolving Loans or fund participation interests pursuant to Sections 2.2(e) and 2.2(f), and, until any resignation as an Swingline Lender as permitted in the immediately following sentence, shall retain all of the obligations of a “Swingline Lender” hereunder. Notwithstanding anything to the contrary contained herein and without limiting any Swingline Lender’s right to assign its Commitments and Loans or its commitment to make Swingline Loans at any time, in the event of any assignment by a Swingline Lender of all of its Commitments and Loans at a time when an Event of Default has occurred and is continuing (or at such other time with the consent of the Parent Borrower, such consent not to be unreasonably withheld) such Swingline Lender may resign as a Swingline Lender; provided that, in the case of any such resignation, (x) such Swingline Lender shall retain all the rights, powers and privileges of a “Swingline Lender” provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Revolving Lenders to make Revolving Loans or fund participation interests in outstanding Swingline Loans pursuant to Sections 2.2(e) and 2.2(f) and (y) the Parent Borrower shall be entitled to appoint from among the Lenders (which such Lenders may accept such appointment in their sole discretion) a successor Swingline Lender hereunder, provided, however, that no failure by the Parent Borrower to appoint any such successor shall affect such resignation of such Swingline Lender.

Assignments by Swingline Lenders. In the case of any assignment by any Swingline Lender of any of its commitment to make Swingline Loans hereunder where the assignee party has not assumed such Swingline Lender’s commitment to make Swingline Loans, such Swingline Lender shall retain all of the rights powers and privileges of a “Swingline Lender” hereunder, including the right to require the Revolving Lenders to make Revolving Loans or fund participation interests pursuant to Sections 2.2(e) and 2.2(f), and, until any resignation as an Swingline Lender as permitted in the immediately following sentence, shall retain all of the obligations of a “Swingline Lender” hereunder. Notwithstanding anything to the contrary contained herein and without limiting any Swingline Lender’s right to assign its Commitments and Loans or its commitment to make Swingline Loans at any time, in the event of any assignment by a Swingline Lender of all of its Commitments and Loans at a time when an Event of Default has occurred and is continuing (or at such other time with the consent of the Parent Borrower, such consent not to be unreasonably withheld) such Swingline Lender may resign as a Swingline Lender; provided that, in the case of any such resignation, (x) such Swingline Lender shall retain all the rights, powers and privileges of a “Swingline Lender” provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Revolving Lenders to make Revolving Loans or fund participation interests in outstanding Swingline Loans pursuant to Sections 2.2(e) and 2.2(f) and (y) the Parent Borrower shall be entitled to appoint from among the Lenders (which such Lenders may accept such appointment in their sole discretion) a successor Swingline Lender hereunder, provided, however, that no failure by the Parent Borrower to appoint any such successor shall affect such resignation of such Swingline Lender.