Common use of Lenders’ Commitments Clause in Contracts

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, and “Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Revolving Credit Lender’s Revolving Credit Dollar Commitment. (d) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Lender to provide any loan or advance under the Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (f) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) may be changed, from time to time by the reallocation or assignment of Dollar Commitments and Commitment Percentages amongst the Lenders or with other Persons who determine to become a Lender; provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Lender shall be subject to the prior consent of the Borrowers’ Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days. (g) Upon written notice given the Borrowers’ Representative from time to time by the Administrative Agent of any assignment or allocation referenced in Section 2.25(f): (i) Each Borrower shall execute one or more replacement Notes to reflect such changed Dollar Commitments, Commitment Percentages, and identities and shall deliver such replacement Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative the Notes so replaced) provided however, in the event that a Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Notes, may issue the Administrative Agent’s Certificate confirming the resulting Dollar Commitments and Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Lender shall have all rights, privileges, and obligations of a Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Lender is a signatory and any Person removed as a Lender shall be relieved of any obligations or responsibilities of a Lender hereunder thereafter.

Appears in 3 contracts

Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)

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Lenders’ Commitments. (a) Subject to Section Sections 16.1 and 16.2 (which provides provide for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, and “Maximum Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25SCHEDULE 2.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each the Revolving Credit Lender Lenders hereunder are several and not joint. The failure of any Revolving Credit Lender to make any loan or advance under the Revolving Credit, to fund any participation in L/Cs and SwingLine Loans, or to make any payment pursuant to Section 19.9(c) on any date required hereunder shall not relieve any other Revolving Credit Lender of its corresponding obligation to do so on such date, and no Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to so make its Revolving Credit Percentage Commitment, to purchase its participation, or to make its payment under Section 19.9(c). No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Revolving Credit Lender’s Maximum Revolving Credit Dollar Commitment. (d) The obligations of each Last Out . Further, no Revolving Lender are several and not joint. No Last Out Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of if the following: (i) That Last Out aggregate loans and advances outstanding under the Revolving Credit attributable to such Revolving Credit Lender’s Last Out Revolving Commitment Percentage of , after giving effect to the subject loan or advance or advance, would exceed the Maximum Revolving Credit Dollar Commitment of Last Out Availabilitysuch Revolving Credit Lender. (iic) That Last Out Revolving Lender’s Last Out No Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers Borrower on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; “Revolving Credit Lenders”, provided, however unless an Event of Default has occurred (in which event, no consent of any the Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.22(d): (i) Each The Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Maximum Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any the Borrower, the Administrative Agent, in lieu of causing the Borrowers Borrower to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 3 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)

Lenders’ Commitments. (a) Subject to Section 16.1 16-1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, and “Revolving Credit Dollar Commitment” (respectively so referred to herein) is are set forth on EXHIBIT 2.252-22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers Borrower on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) In the event of the Borrower’s exercise of its right to reduce the Revolving Credit Ceiling, the effect of such reduction shall be distributed, pro rata, amongst the Revolving Credit Lenders based on their then respective Revolving Credit Dollar Commitments. (e) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; “Revolving Credit Lenders”, provided, however unless an Event of Default has occurred (in which event, no consent of any the Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior written consent of the Borrowers’ Representative Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection objection, not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (gf) Upon written notice given the Borrowers’ Representative Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2-22(e): (i) Each The Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any the Borrower, the Administrative Agent, in lieu of causing the Borrowers Borrower to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “'s "Revolving Credit Percentage Commitment", and "Maximum Revolving Credit Dollar Commitment" (respectively so referred to herein) is set forth on EXHIBIT 2.25SCHEDULE 2.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers Borrower on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any the Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.22(d): (i) Each The Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Maximum Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any the Borrower, the Administrative Agent, in lieu of causing the Borrowers Borrower to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 2 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s "REVOLVING CREDIT PERCENTAGE COMMITMENT", and “Revolving Credit Dollar Commitment” "MAXIMUM REVOLVING CREDIT DOLLAR COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.25SCHEDULE 2.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers any Borrower on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Borrowers (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Borrowers provides the Administrative Agent with written objection objection, not more than five ten (510) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrowers written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Borrowers from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.22(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Maximum Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrowers the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers each Borrower to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter. (f) From time to time on not less than three (3) Business Days notice to the Agent, the Company may elect to increase (but not decrease) the Revolving Credit Ceiling in $10,000,000 increments up to a maximum amount equal to the Maximum Revolving Credit Ceiling.

Appears in 2 contracts

Samples: Loan and Security Agreement (Jacobson Stores Inc), Loan and Security Agreement (Jacobson Stores Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitmentsCommitments), each Revolving Credit Lender’s “'s "Revolving Credit Percentage Commitment”Commitment Percentage", and "Revolving Credit Dollar Commitment" (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed heretoSchedule 2.23. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Credit Facilities this Agreement in excess of either the lesser of the following: (i) That that Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Revolving Credit Lender’s Revolving Credit Dollar Commitment. (d) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability.; or (ii) That Last Out Revolving Lender’s Last Out that Revolving Credit Dollar Lender's Commitment. (ec) [Intentionally Omitted] (d) No Lender shall have any liability to the Borrowers Credit Parties on account of the failure of any other Lender to provide any loan or advance under the Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fe) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) may be changed, from time to time by the reallocation or assignment of Dollar Commitments and Revolving Credit Commitment Percentages amongst the Lenders or with other Persons who determine to become a Lender; provided, however unless an Event "Lenders" in accordance with the provisions of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Lender shall be subject to the prior consent of the Borrowers’ Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business DaysArticle 16 hereof. (gf) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.23(e): (i) Each Borrower shall execute one or more replacement Notes to reflect such changed Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Notes so replaced) provided however, in the event that a Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Dollar Commitments and Percentage CommitmentsRevolving Credit Commitment Percentages. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Lender shall have all rights, privileges, rights and obligations privileges of a Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Lender is a signatory and any Person removed as a Lender shall be relieved of any obligations or responsibilities of a Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Shopko Stores Inc)

Lenders’ Commitments. (a) Subject to Section Sections 16.1 and 16.2 (which provides provide for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, and “Maximum Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25SCHEDULE 2.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each the Revolving Credit Lender Lenders hereunder are several and not joint. The failure of any Revolving Credit Lender to make any loan or advance under the Revolving Credit, to fund any participation in L/Cs and SwingLine Loans, or to make any payment pursuant to Section 19.9(c) on any date required hereunder shall not relieve any other Revolving Credit Lender of its corresponding obligation to do so on such date, and no Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to so make its Revolving Credit Percentage Commitment, to purchase its participation, or to make its payment under Section 19.9(c). No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Revolving Credit Lender’s Maximum Revolving Credit Dollar Commitment. (d) The obligations of each Last Out . Further, no Revolving Lender are several and not joint. No Last Out Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of if the following: (i) That Last Out aggregate loans and advances outstanding under the Revolving Credit attributable to such Revolving Credit Lender’s Last Out Revolving Commitment Percentage of , after giving effect to the subject loan or advance or advance, would exceed the Maximum Revolving Credit Dollar Commitment of Last Out Availabilitysuch Revolving Credit Lender. (iic) That Last Out Revolving Lender’s Last Out No Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; “Revolving Credit Lenders”, provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower the Borrowers is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Borrowers (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides Borrowers provide the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrowers written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Borrowers from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.22(d): (i) Each Borrower The Borrowers shall execute one or more replacement Revolving Credit Notes to reflect such changed Maximum Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrowers the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrowerthe Borrowers, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Gander Mountain Co)

Lenders’ Commitments. (a) Subject to Section 16.1 16-1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s 'REVOLVING CREDIT COMMITMENT PERCENTAGE", and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.252-22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Dollar Revolving Credit Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders" in accordance with the provisions of Article 16 hereof', provided, however unless FRFI shall at all times prior to the occurrence of an Event of Default has occurred retain at least ten percent (in which event, no consent of any Borrower is required10%) any assignment to a Person not then a Lender shall be subject to the prior consent of the Borrowers’ Representative (not Revolving Credit Commitments outstanding from time to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Daystime. (ge) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2-22(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Dollar Revolving Credit Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Dollar Revolving Credit Commitments and Percentage CommitmentsRevolving Credit Commitment Percentages. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Officemax Inc /Oh/)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “'s "Revolving Credit Percentage Commitment", and "Revolving Credit Dollar Commitment" (respectively so referred to herein) is set forth on EXHIBIT 2.252.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Any loan which, when aggregated with all other loans made by that Revolving Credit Lender under the Revolving Credit and then outstanding, exceed that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Lead Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Lead Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.23(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter. (f) Upon at least three (3) Business Days’ prior written notice to the Agent, the Lead Borrower may permanently reduce the Revolving Credit Dollar Commitments. Each such reduction shall be in the principal amount of $7,500,000.00 and not more than two (2) such reductions may be made during the term of this Agreement. Each such reduction shall (i) be applied ratably to the Revolving Credit Dollar Commitments of each Revolving Credit Lender and (ii) be irrevocable when given. At the effective time of each such reduction, the Borrowers shall pay to the Agent for application as provided herein (i) all earned and unpaid interest and fees accrued on the amount of the Revolving Credit Commitments so reduced through the date thereof, and (ii) any amount by which the aggregate unpaid balance of the Loan Account and the aggregate undrawn Stated Amount of all then outstanding L/C's exceed the amount to which the Revolving Credit Commitments are to be reduced, in each case pro-rata based on the amount prepaid.

Appears in 1 contract

Samples: Loan and Security Agreement (Drugmax Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s "REVOLVING CREDIT PERCENTAGE COMMITMENT", and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT DOLLAR COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability. (ii) That Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) In the event of the Lead Borrower's exercise of its right to reduce the Revolving Credit Ceiling, the effect of such reduction shall be distributed, pro rata, amongst the Revolving Credit Lenders based on their then respective Revolving Credit Dollar Commitments. (e) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Lead Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Lead Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (gf) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f):: (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Gymboree Corp)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s "REVOLVING CREDIT PERCENTAGE COMMITMENT", and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT DOLLAR COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.252.24, annexed hereto. Upon an increase in the Revolving Credit Ceiling in accordance with Section 2.25, each Revolving Credit Lender's Revolving Credit Percentage Commitment and Revolving Credit Dollar Commitment shall increase pro rata as the result of such increase in the Revolving Credit Ceiling, provided, however the Revolving Credit Ceiling shall not exceed $50,000,000.00. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Any loan which, when aggregated with all other loans made by that Revolving Credit Lender under the Revolving Credit and then outstanding, exceed that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers Loan Parties on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower Loan Party is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Lead Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection objection, not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Lead Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.24(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any BorrowerLoan Party, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Odd Job Stores Inc)

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Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitmentsCommitments), each Revolving Credit Lender’s “'s "Revolving Credit Percentage Commitment”Commitment Percentage", and "Revolving Credit Dollar Commitment" (respectively so referred to herein) and each Term Loan Lender's "Term Loan Percentage", and "Term Loan Commitment" (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed heretoSchedule 2.23. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Credit Facilities this Agreement in excess of either the lesser of the following: (i) That that Revolving Credit Lender’s 's Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability.; or (ii) That that Revolving Credit Lender’s Revolving Credit Dollar 's Commitment. (dc) The obligations of each Last Out Revolving Term Loan Lender are several and not joint. No Last Out Revolving Term Loan Lender shall have any obligation to make any loan or advance under the Credit Facilities this Agreement in excess of either of the following: (i) That Last Out Revolving that Term Loan Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar 's Term Loan Commitment. (ed) No Lender shall have any liability to the Borrowers Credit Parties on account of the failure of any other Lender to provide any loan or advance under the Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fe) The Revolving Credit Dollar Commitments, Term Loan Percentages, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) may be changed, from time to time by the reallocation or assignment of Dollar Commitments Commitments, Term Loan Percentages and Revolving Credit Commitment Percentages amongst the Lenders or with other Persons who determine to become a Lender; provided, however unless an Event "Lenders" in accordance with the provisions of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Lender shall be subject to the prior consent of the Borrowers’ Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business DaysArticle 16 hereof. (gf) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.23(e): (i) Each Borrower shall execute one or more replacement Notes to reflect such changed Dollar Commitments, Term Loan Percentages, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Notes so replaced) provided however, in the event that a Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Dollar Commitments and Percentage CommitmentsTerm Loan Percentages and Revolving Credit Commitment Percentages. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Lender shall have all rights, privileges, rights and obligations privileges of a Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Lender is a signatory and any Person removed as a Lender shall be relieved of any obligations or responsibilities of a Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Shopko Stores Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 17.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “'s "Revolving Credit Percentage Commitment", and "Revolving Credit Dollar Commitment" (respectively so referred to herein) is set forth on EXHIBIT 2.252.22, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That Any loan which, when aggregated with all other loans made by that Revolving Credit Lender under the Revolving Credit and then outstanding, exceed that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative Lead Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Lead Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Lead Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (ge) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2.23(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 17.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s "REVOLVING CREDIT PERCENTAGE COMMITMENT", and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT DOLLAR COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.252.24, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Revolving Credit Lenders (but not the Revolving Credit Commitments or Last Out CommitmentsCeiling) may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender"Revolving Credit Lenders"; providedPROVIDED, however HOWEVER unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers' Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers' Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers' Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers' Representative if written objection is not received by the Administrative Agent within such five (5) Business Days. (ge) Upon written notice given the Borrowers' Representative from time to time by the Administrative Agent of any assignment or allocation referenced in Section 2.25(f2.24(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers' Representative the Revolving Credit Notes so replaced) provided howeverPROVIDED HOWEVER, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, and obligations of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Designs Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 17.1 (which provides for assignments and assumptions of commitments) and Section 2.24 (which provides for the increase of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, and “Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.252.23, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either of the following: (i) That Revolving Credit Lender’s Revolving Credit Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Revolving Credit Lenders (but not the Revolving Credit Commitments or Last Out CommitmentsCeiling) may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender“Revolving Credit Lenders”; provided, however unless an Event of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior consent of the Borrowers’ Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days. (ge) Upon written notice given the Borrowers’ Representative from time to time by the Administrative Agent of any assignment or allocation referenced in Section 2.25(f2.23(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, and obligations of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Casual Male Retail Group Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 15-1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”'s "REVOLVING CREDIT COMMITMENT PERCENTAGE", and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT COMMITMENT" (respectively so referred to herein) is set forth on EXHIBIT 2.252-20, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Dollar Revolving Credit Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; provided, however unless an Event "Revolving Credit Lenders" in accordance with the provisions of Default has occurred (in which event, no consent of any Borrower is required) any assignment to a Person not then a Lender shall be subject to the prior consent of the Borrowers’ Representative (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative provides the Administrative Agent with written objection not more than five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business DaysArticle 15 hereof. (ge) Upon written notice given the Borrowers’ Representative Lead Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f2-20(d): (i) Each Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Dollar Revolving Credit Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Lead Borrower the Revolving Credit Notes so replaced) provided provided, however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any Borrower, the Administrative Agent, in lieu of causing the Borrowers to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Dollar Revolving Credit Commitments and Percentage CommitmentsRevolving Credit Commitment Percentages. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Claires Stores Inc)

Lenders’ Commitments. (a) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Revolving Credit Lender’s “Revolving Credit Percentage Commitment”, 's "REVOLVING CREDIT PERCENTAGE COMMITMENT" and “Revolving Credit Dollar Commitment” "REVOLVING CREDIT DOLLAR COMMITMENT" (respectively so referred to herein) is are set forth on EXHIBIT 2.25, annexed hereto. (b) Subject to Section 16.1 (which provides for assignments and assumptions of commitments), each Last Out Revolving Lender’s “Last Out Revolving Commitment Percentage”, and “Last Out Revolving Credit Dollar Commitment” (respectively so referred to herein) is set forth on EXHIBIT 2.25, annexed hereto. (c) The obligations of each Revolving Credit Lender are several and not joint. No Revolving Credit Lender shall have any obligation to make any loan or advance under the Revolving Credit Facilities in excess of either the lesser of the following: (i) That Revolving Credit Lender’s 's Revolving Credit Commitment Percentage Commitment of the subject loan or advance or of Availability. (ii) That that Revolving Credit Lender’s 's Revolving Credit Dollar Commitment. (dc) The obligations of each Last Out Revolving Lender are several and not joint. No Last Out Revolving Lender shall have any obligation to make any loan or advance under the Credit Facilities in excess of either of the following: (i) That Last Out Revolving Lender’s Last Out Revolving Commitment Percentage of the subject loan or advance or of Last Out Availability. (ii) That Last Out Revolving Lender’s Last Out Revolving Credit Dollar Commitment. (e) No Lender shall have any liability to the Borrowers Borrower on account of the failure of any other Revolving Credit Lender to provide any loan or advance under the Revolving Credit Facilities nor any obligation to make up any shortfall which may be created by such failure. (fd) In the event of the Borrower's exercise of its right to reduce the Revolving Credit Ceiling, the effect of such reduction shall be distributed, pro rata, amongst the Revolving Credit Lenders based on their then respective Revolving Credit Dollar Commitments. (e) The Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, Last Out Revolving Credit Dollar Commitment, Last Out Revolving Commitment Percentage, and identities of the Lenders (but not the Revolving Credit Commitments or Last Out Commitments) Lenders may be changed, from time to time by the reallocation or assignment of Revolving Credit Dollar Commitments and Revolving Credit Commitment Percentages amongst the Revolving Credit Lenders or with other Persons who determine to become a Lender; "Revolving Credit Lenders", provided, however unless an Event of Default has occurred (in which event, no consent of any the Borrower is required) any assignment to a Person not then a Revolving Credit Lender shall be subject to the prior written consent of the Borrowers’ Representative Borrower (not to be unreasonably withheld), which consent will be deemed given unless the Borrowers’ Representative Borrower provides the Administrative Agent with written objection objection, not more than five Five (5) Business Days after the Administrative Agent shall have given the Borrowers’ Representative Borrower written notice of a proposed assignment, such notice to state that consent will be deemed given by the Borrowers’ Representative if written objection is not received by the Administrative Agent within such five (5) Business Days). (gf) Upon written notice given the Borrowers’ Representative Borrower from time to time by the Administrative Agent Agent, of any assignment or allocation referenced in Section 2.25(f):: (i) Each The Borrower shall execute one or more replacement Revolving Credit Notes to reflect such changed Revolving Credit Dollar Commitments, Revolving Credit Commitment Percentages, and identities and shall deliver such replacement Revolving Credit Notes to the Administrative Agent (which promptly thereafter shall deliver to the Borrowers’ Representative Borrower the Revolving Credit Notes so replaced) provided however, in the event that a Revolving Credit Note is to be exchanged following its acceleration or the entry of an order for relief under the Bankruptcy Code with respect to any the Borrower, the Administrative Agent, in lieu of causing the Borrowers Borrower to execute one or more new Revolving Credit Notes, may issue the Administrative Agent’s 's Certificate confirming the resulting Revolving Credit Dollar Commitments and Revolving Credit Percentage Commitments. (ii) Such change shall be effective from the effective date specified in such written notice and any Person added as a Revolving Credit Lender shall have all rights, privileges, rights and obligations privileges of a Revolving Credit Lender hereunder thereafter as if such Person had been a signatory to this Agreement and any other Loan Document to which a Revolving Credit Lender is a signatory and any Person removed as a Revolving Credit Lender shall be relieved of any obligations or responsibilities of a Revolving Credit Lender hereunder thereafter.

Appears in 1 contract

Samples: Loan and Security Agreement (Hastings Entertainment Inc)

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