Common use of Continuation of Authority of Lead Borrower Clause in Contracts

Continuation of Authority of Lead Borrower. The authority of the Lead Borrower to request Revolving Credit Loans on behalf of, and to bind, the Borrowers, shall continue unless and until the Administrative Agent acts as provided in Section 2-3, above, or the Administrative Agent actually receives (a) written notice of: (i) the termination of such authority, and (ii) the subsequent appointment of a successor Lead Borrower, which notice is signed by the respective Responsible Officer of each Borrower then eligible for borrowing under this Agreement; and (b) written notice from such successive Lead Borrower (i) accepting such appointment; (ii) acknowledging that such removal and appointment has been effected by the respective Responsible Officer of such Borrowers eligible for borrowing under this Agreement; and (iii) acknowledging that from and after the date of such appointment, the newly appointed Lead Borrower shall be bound by the terms hereof, and that as used herein, the term "Lead Borrower" shall mean and include the newly appointed Lead Borrower.

Continuation of Authority of Lead Borrower. The authority of the Lead Borrower to request Revolving Credit Loans on behalf of, and to bind, the Borrowers, shall continue unless and until the Administrative Agent acts as provided in Section 2-34, above, or the Administrative Agent actually receives (a) written notice of: (i) the termination of such authority, and (ii) the subsequent appointment of a successor Lead Borrower, which notice is signed by the respective Responsible Officer Presidents of each Borrower (other than the President of the Lead Borrower being replaced) then eligible for borrowing under this the within Agreement; and (b) written notice from such successive Lead Borrower (i) accepting such appointment; (ii) acknowledging that such removal and appointment has been effected by the respective Responsible Officer Presidents of such Borrowers eligible for borrowing under this the within Agreement; and (iii) acknowledging that from and after the date of such appointment, the newly appointed Lead Borrower shall be bound by the terms hereof, and that as used herein, the term "Lead Borrower" shall mean and include the newly appointed Lead Borrower.

Continuation of Authority of Lead Borrower. The authority of the Lead Borrower to request Revolving Credit Loans loans on behalf of, and to bind, the Borrowers, shall continue unless and until the Administrative Agent acts as provided in Section 2-34, above, or the Administrative Agent actually receives (a) written notice of: (i) the termination of such authority, and (ii) the subsequent appointment of a successor Lead Borrower, which notice is signed by the respective Responsible Officer Presidents of each Borrower (other than the President of the Lead Borrower being replaced) then eligible for borrowing under this the within Agreement; and (b) written notice from such successive Lead Borrower (i) accepting such appointment; (ii) acknowledging that such removal and appointment has been effected by the respective Responsible Officer Presidents of such Borrowers eligible for borrowing under this the within Agreement; and (iii) acknowledging that from and after the date of such appointment, the newly appointed Lead Borrower shall be bound by the terms hereof, and that as used herein, the term "Lead Borrower" shall mean and include the newly appointed Lead Borrower.

Continuation of Authority of Lead Borrower. The authority of the Lead Borrower to request Revolving Credit Loans on behalf of, and to bind, the Borrowers, shall continue unless and until the Administrative Agent acts as provided in Section 2-3, above, or the Administrative Agent actually receives (a) written notice of: (i) the termination of such authority, and (ii) the subsequent appointment of a successor Lead Borrower, which notice is signed by the respective Responsible Officer of each Borrower then eligible for borrowing under this Agreement; and (b) written notice from such successive Lead Borrower (i) accepting such appointment; (ii) acknowledging that such removal and appointment has been effected by the respective Responsible Officer of such Borrowers eligible for borrowing under this Agreement; and (iii) acknowledging that that, from and after the date of such appointment, the newly appointed Lead Borrower shall be bound by the terms hereof, and that as used herein, the term "“Lead Borrower" ” shall mean and include the newly appointed Lead Borrower.

Continuation of Authority of Lead Borrower. The authority of the Lead Borrower to request Revolving Credit Loans loans on behalf of, and to bind, the Borrowers, shall continue unless and until the Administrative Agent Lender acts as provided in Section 2-34, above, or the Administrative Agent Lender actually receives receives (a) written notice of: (i) the termination of such authority, and (ii) the subsequent appointment of a successor Lead Borrower, which notice is signed by the respective Responsible Officer Presidents of each Borrower (other than the President of the Lead Borrower being replaced) then eligible for borrowing under this the within Agreement; and and (b) written notice from such successive Lead Borrower (i) accepting such appointment; (ii) acknowledging that such removal and appointment has been effected by the respective Responsible Officer Presidents of such Borrowers eligible for borrowing under this the within Agreement; and (iii) acknowledging that from and after the date of such appointment, the newly appointed Lead Borrower shall be bound by the terms hereof, and that as used herein, the term "Lead Borrower" shall mean and include the newly appointed Lead Borrower.