Common use of Duty to Mitigate; Assignment of Commitments Under Certain Circumstances Clause in Contracts

Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercising its rights under Section 2.14 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee), be otherwise disadvantageous to such Lender (or Transferee). (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 or 2.14, or the Company shall be required to make additional payments to any Lender under Section 2.19, the Company shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 8.4) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the Company, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15).

Appears in 1 contract

Samples: 5 Year Competitive Advance and Revolving Credit Facility Agreement (American Bankers Insurance Group Inc)

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Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (claiming or Transferee) claiming expecting to claim any payment or additional amounts payable pursuant to Section 2.13 2.10 or Section 2.19 or exercising its rights under Section 2.14 2.16 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office Applicable Lending Office if the making of such a filing or change change, in the judgment of such Lender, would avoid the need for or reduce the amount of any such payment or additional amounts which that may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee)Lender, be otherwise disadvantageous to such Lender (or Transferee)Lender. (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 2.10 or 2.142.11, or the Company Borrowers shall be required to make additional payments to any Lender under Section 2.192.16, the Company Borrowers shall have the right, at its their own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 8.411.03) all its interests, rights and obligations contained hereunder under this Agreement to another one or more other financial institution institutions approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations. A Lender shall not be required to make any such transfer and assignment unless all Obligations owing to such Lender, provided that (i) including those pursuant to Sections 2.10, 2.11 and 2.16, have been paid in full, and no Lender shall be required to make any such transfer and assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the Companyif prior thereto, as a result of a waiver, the case may be, shall pay circumstances entitling the Borrowers to the affected Lender in immediately available funds on the date of require such transfer and assignment the principal of and interest accrued cease to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15)apply.

Appears in 1 contract

Samples: Credit Agreement (Manischewitz B Co LLC)

Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercising its rights under Section 2.14 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee), be otherwise disadvantageous to such Lender (or Transferee). (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 or 2.14, or the Company shall be required to make additional payments to any Lender under Section 2.19, the Company shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 8.48.04) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, ; provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the Company, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15)hereunder.

Appears in 1 contract

Samples: Credit Facility Agreement (Hartford Financial Services Group Inc/De)

Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercising its rights under Section 2.14 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee), be otherwise disadvantageous to such Lender (or Transferee). (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 or 2.14, or the Company shall be required to make additional payments to any Lender under Section 2.19, the Company shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 8.49.04) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, ; provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the Company, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15)hereunder.

Appears in 1 contract

Samples: Five Year Competitive Advance and Revolving Credit Facility Agreement (Hartford Financial Services Group Inc/De)

Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 2.14 or Section 2.19 2.21 or exercising its rights under Section 2.14 2.15 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee), be otherwise disadvantageous to such Lender (or Transferee). (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 2.11(b), 2.14 or 2.142.15, or the Company Borrower shall be required to make additional payments to any Lender under Section 2.192.21, the Company shall have the right, at its own expenseexpense (which shall include the processing and recordation fee referred to in Section 9.04(b)), upon notice to such Lender Lender, the Administrative Agent and the Administrative Agent, London Agent to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 8.49.04) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, ; provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the CompanyBorrowers, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15)hereunder.

Appears in 1 contract

Samples: 364 Day Amended and Restated Competitive Advance and Revolving Credit Facility Agreement (Perkinelmer Inc)

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Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercising its rights under Section 2.14 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company Borrower or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee)Lender, be otherwise disadvantageous to such Lender (or Transferee)Lender. (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 or 2.14, or the Company Borrower shall be required to make additional payments to any Lender under Section 2.19, the Company Borrower shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained and payments provided for in Section 8.410.06) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, ; provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the CompanyBorrower, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it the additional amounts asserted and payable pursuant to Section 2.152.13, 2.14 or 2.19, if any).

Appears in 1 contract

Samples: Credit Agreement (Kuhlman Corp)

Duty to Mitigate; Assignment of Commitments Under Certain Circumstances. (a) Any Lender (or Transferee) claiming any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercising its rights under Section 2.14 shall use reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document requested by the Company or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of such Lender (or Transferee), be otherwise disadvantageous to such Lender (or Transferee). (b) In the event that any Lender shall have delivered a notice or certificate pursuant to Section 2.13 or 2.14, or the Company shall be required to make additional payments to any Lender under Section 2.19, the Company shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to transfer and assign without recourse recourse, representation or warranty (in accordance with and subject to the restrictions contained in Section 8.49.04) all interests, rights and obligations contained hereunder to another financial institution approved by the Administrative Agent (which approval shall not be unreasonably withheld) which shall assume such obligations, ; provided that (i) no such assignment shall conflict with any law, rule or regulation or order of any Governmental Authority and (ii) the assignee or the Company, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including any payments owed to it pursuant to Section 2.15)hereunder.

Appears in 1 contract

Samples: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Itt Industries Inc)

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