Disqualified Competitors. (1) No assignment shall be made to any Person that was a Disqualified Competitor as of the date (the “Trade Date”) on which the applicable Lender entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Borrower has consented to such assignment as otherwise contemplated by this Section 11.06, in which case such Person will not be considered a Disqualified Competitor for the purpose of such assignment). For the avoidance of doubt, with respect to any assignee that becomes a Disqualified Competitor after the applicable Trade Date (including as a result of the delivery of a notice pursuant to, and/or the expiration of the notice period referred to in, the definition of “Disqualified Competitor”), (x) such assignee shall not retroactively be disqualified from becoming a Lender and (y) the execution by the Borrower of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Competitor. Any assignment in violation of this clause (g)(i) shall not be void, but the other provisions of this clause (g) shall apply.
(2) If any assignment is made to any Disqualified Competitor without the Borrower’s prior consent in violation of clause (i) above, or if any Person becomes a Disqualified Competitor after the applicable Trade Date, the Borrower may, at its sole expense and effort, upon notice to the applicable Disqualified Competitor and the Administrative Agent, (A) terminate any Commitment of such Disqualified Competitor and repay all obligations of the Borrower owing to such Disqualified Competitor in connection with such Commitment (including Revolving Credit Exposure) and/or (B) require such Disqualified Competitor to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in this Section 11.06), all of its interest, rights and obligations under this Agreement and related Loan Documents to an Eligible Assignee that shall assume such obligations at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Competitor paid to acquire such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and other the other Loan Documents; provided that (i) the Borrower shall have paid to the Administrative Agent the assignment fe...
Disqualified Competitors. EXHIBITS
Disqualified Competitors. 1. Gerdau Special Steel North America (a unit of Brazilian steelmaker Gerdau, S.A)
2. Republic Steel (a unit of Mexican steel producer ICH)
3. Steel Dynamics, Inc.
Disqualified Competitors. Gerdau Special Steel North America (a unit of Brazilian steelmaker Gerdau, S.A)
Disqualified Competitors. Xx assignment shall be made to any Person that was a Disqualified Competitor as of the date (the “Trade Date”) on which the applicable Lender entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Borrower has consented to such assignment as otherwise contemplated by this Section 11.06, in which case such Person will not be considered a Disqualified Competitor for the purpose of such assignment). For the avoidance of doubt, with respect to any assignee that becomes a Disqualified Competitor after the applicable Trade Date (including as a result of the delivery of a notice pursuant to, and/or the expiration of the notice period referred to in, the definition of “Disqualified Competitor”), (x) such assignee shall not retroactively be disqualified from becoming a Lender and (y) the execution by the Borrower of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Competitor. Any assignment in violation of this clause (g)(i) shall not be void, but the other provisions of this clause (g) shall apply.
