Common use of Implementation of CAM Clause in Contracts

Implementation of CAM. On the CAM Exchange Date, the Lenders shall automatically and without further act be deemed to have exchanged interests in the Designated Obligations outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations outstanding under each Credit Facility in which it shall participate as of such date, such Lender shall hold an interest in the Designated Obligations outstanding under each of the Credit Facilities, whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Participant that has acquired a participation from any Lender as contemplated by Section 9.04(e) and each Loan Party hereby consents and agrees to the CAM Exchange. Each Loan Party agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any promissory notes so executed and delivered; provided, however, that the failure of any Loan Party to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange.

Implementation of CAM. On the CAM Exchange DateDate (but only if the Redemption Date has not yet occurred), the Lenders shall automatically and without further act be deemed to have exchanged interests in the Designated Obligations outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations outstanding under each Credit Facility in which it shall participate as of such datedate (including such Lender's interest in the principal, reimbursement, interest and other Designated Obligations of each Borrower in respect of each such Credit Facility), such Lender shall hold an interest in the Designated Obligations outstanding under each every one of the Credit FacilitiesFacilities (including the principal, reimbursement, interest and other Designated Obligations of each Borrower in respect of each such Credit Facility), whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Participant that has acquired Lender and each Person acquiring a participation from any Lender as contemplated by Section 9.04(e) and each Loan Party 11.5 hereby consents and agrees to the CAM Exchange. Each Loan Party Borrower agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes Notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes Notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any promissory notes so executed and deliverednew Notes evidencing its interests in the Credit Facilities; provided, however, that the failure of any Loan Party Borrower to execute or deliver or of any Lender to accept any such promissory noteNote, instrument or document shall not affect the validity or effectiveness of the CAM Exchange.

Implementation of CAM. On the CAM Exchange Date, the Lenders shall automatically and without further act be deemed to have exchanged interests in the Designated Obligations and Swingline Exposures outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations and Swingline Exposures outstanding under each Credit Facility in which it shall participate as of such date, such Lender shall hold an interest in the Designated Obligations and Swingline Exposures outstanding under each of the Credit Facilities, whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Participant that has acquired a participation from any Lender as contemplated by Section 9.04(e) and each Loan Party hereby consents and agrees to the CAM Exchange. Each Loan Party agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any promissory notes so executed and delivered; providedPROVIDED, howeverHOWEVER, that the failure of any Loan Party to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange.

Implementation of CAM. (a) On the CAM Exchange Date, (i) the Commitments shall automatically and without further act be terminated as provided in Article VII and (ii) the Lenders shall automatically and without further act (and without regard to the provisions of Section 10.04) be deemed to have exchanged interests in the Designated Obligations outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations outstanding under each Credit Facility in which it shall participate as of such datedate (including such Lender's interest in the Designated Obligations of each Credit Party in respect of each such Credit Facility), such Lender shall hold an interest in every one of the Credit Facilities (including the Designated Obligations outstanding under of each Credit Party in respect of the each such Credit FacilitiesFacility and each L/C Reserve Account established pursuant to Section 9.02 below), whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Participant that has acquired a participation from any Lender as contemplated by Section 9.04(e) and each Loan Credit Party hereby consents and agrees to the CAM Exchange, and each Lender agrees that the CAM Exchange shall be binding upon its successors and assigns and any person that acquires a participation in its interests in any Credit Facility. Each Loan Credit Party agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes Notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes Notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any promissory notes so executed and deliverednew Notes evidencing its interests in the Credit Facilities; provided, however, that the failure of any Loan Credit Party to execute or deliver or of any Lender to accept any such promissory noteNote, instrument or document shall not affect the validity or effectiveness of the CAM Exchange. (b) As a result of the CAM Exchange, upon and after the CAM Exchange Date, each payment received by the Administrative Agent or the Collateral Agent pursuant to any Loan Document in respect of the Designated Obligations, and each distribution made by the Collateral Agent pursuant to any Security Document in respect of the Designated Obligations, shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages. Any direct payment received by a Lender upon or after the CAM Exchange Date, including by way of setoff, in respect of a Designated Obligation shall be paid over to the Administrative Agent for distribution to the Lenders in accordance herewith.

Implementation of CAM. (a) On the CAM Exchange Date, the Lenders shall automatically and without further act (and without regard to the provisions of Section 11.04) be deemed to have exchanged interests in the Designated Obligations outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations outstanding under each Credit Facility in which it shall participate as of such datedate (including such Lender's interest in the Designated Obligations of each Loan Party in respect of each such Credit Facility), such Lender shall hold an interest in every one of the Credit Facilities (including the Designated Obligations outstanding under of each Loan Party in respect of the each such Credit FacilitiesFacility and each LC Reserve Account established pursuant to Section 10.02 below), whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Participant that has acquired a participation from any Lender as contemplated by Section 9.04(e) and each Loan Party Borrower hereby consents and agrees to the CAM Exchange, and each Lender agrees that the CAM Exchange shall be binding upon its successors and assigns and any person that acquires a participation in its interests in any Credit Facility. Each Loan Party Borrower agrees from time to time to execute and deliver to the Administrative Agent Agents all such promissory notes and other instruments and documents as the Administrative either Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange. (b) As a result of the CAM Exchange, upon and after the CAM Exchange Date, each payment received by the Administrative Agent or the Collateral Agent pursuant to any Loan Document in respect of the Designated Obligations, and each Lender agrees distribution made by the Collateral Agent pursuant to surrender any promissory notes originally Security Document in respect of the Designated Obligations, shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages. Any direct payment received by it a Lender upon or after the CAM Exchange Date, including by way of setoff, in connection with its Loans hereunder respect of a Designated Obligation shall be paid over to the Administrative Agent against delivery of any promissory notes so executed and delivered; provided, however, that for distribution to the failure of any Loan Party to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM ExchangeLenders in accordance herewith.