Common use of Lessee's Credit Agreement Rights Clause in Contracts

Lessee's Credit Agreement Rights. Notwithstanding anything to the contrary contained in the Credit Agreement, the Agent, the Lessee and the Owner Trustee hereby agree that, prior to the occurrence and continuation of any Lease Default or Lease Event of Default, the Lessee (as designated below) shall have the following rights: (a) the Lessee shall have the right to terminate or reduce the Commitments pursuant to Section 2.5(a) of the Credit Agreement and to make an Extension Request pursuant to Section 2.5(c) of the Credit Agreement; (b) the Lessee shall have the right to exercise the conversion and continuation options pursuant to Section 2.7 of the Credit Agreement; (c) the Lessee shall have the right to approve any successor agent pursuant to Section 7.9 of the Credit Agreement; (d) the Lessee shall have the right to consent to any assignment by a Lender to which the Lessor has the right to consent pursuant to Section 9.8 of the Credit Agreement; and (e) without limiting the foregoing clauses (a) through (d), and in addition thereto, the Lessee shall have the right to exercise any other right of the Owner Trustee under the Credit Agreement upon not less than five (5) Business Days' prior written notice from the Lessee to the Owner Trustee and the Agent.

Appears in 1 contract

Samples: Participation Agreement (Pactiv Corp)

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Lessee's Credit Agreement Rights. Notwithstanding anything to the contrary contained in the Credit Agreement, the Agent, the Lessee and the Owner Trustee hereby agree that, prior to the occurrence and continuation of any Lease Default or Lease Event of Default, Default the Lessee (as designated below) shall have the following rights: (a) the The Lessee shall have the right to terminate or reduce give the Commitments notice referred to in Section 2.3 of the. Credit Agreement, to designate the account to which a borrowing under the Credit Agreement is to be credited pursuant to Section 2.5(a) of the Credit Agreement and to make an Extension Request pursuant to Section 2.5(c) 2.3 of the Credit Agreement; (b) the Lessee shall have the right to exercise the conversion and continuation options pursuant to Section 2.7 2.1 of the Credit Agreement; (c) the Lessee shall have the right to approve any successor agent pursuant to Section 7.9 7.8 of the Credit Agreement; (d) the Lessee shall have the right to consent to any assignment by a Lender to which the Lessor has the right to consent pursuant to Section 9.8 of the Credit Agreement; and (e) without limiting the foregoing clauses (a) through (d), and in addition thereto, provided that no Event of Default then exists, the Lessee shall have the right to exercise any other right of the Owner Trustee under the Credit Agreement upon not less than five (5) Business Days' ’ prior written notice from the Lessee to the Owner Trustee and the Agent.

Appears in 1 contract

Samples: Participation Agreement (Healthsouth Corp)

Lessee's Credit Agreement Rights. Notwithstanding anything to the contrary contained in the Credit Agreement, the Agent, the Lessee and the Owner Trustee hereby agree that, prior to the occurrence and continuation of any Lease Default or Lease Event of Default, Default the Lessee (as designated below) shall have the following rights: (a) the Lessee shall have the right to give the notice referred to in Section 2.3 of the Credit Agreement, to designate the account to which a borrowing under the Credit Agreement is to be credited pursuant to Section 2.3 of the Credit Agreement; (b) the Lessee shall have the right to terminate or reduce the Commitments pursuant to Section 2.5(a) of the Credit Agreement and to make an Extension Request pursuant to Section 2.5(c) of the Credit Agreement; (bc) the Lessee shall have the right to exercise the conversion and continuation options pursuant to Section 2.7 of the Credit Agreement; (cd) the Lessee shall have the right to approve any successor agent pursuant to Section 7.9 7.8 of the Credit Agreement; (de) the Lessee shall have the right to consent to any assignment by a Lender to which the Lessor has the right to consent pursuant to Section 9.8 of the Credit Agreement; and (ef) without limiting the foregoing clauses (a) through (de), and in addition thereto, provided that no Event of Default then exists, the Lessee shall have the right to exercise any other right of the Owner Trustee under the Credit Agreement upon not less than five (5) Business Days' prior written notice from the Lessee to the Owner Trustee and the Agent.

Appears in 1 contract

Samples: Participation Agreement (Healthsouth Corp)

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Lessee's Credit Agreement Rights. Notwithstanding anything to the contrary contained in the Credit Agreement, the Agent, the Lessee and the Owner Trustee hereby agree that, prior to the occurrence and continuation of any Lease Default or Lease Event of Default, Default the Lessee (as designated below) shall have the following rights: (a) the The Lessee shall have the right to terminate or reduce give the Commitments notice referred to in Section 2.3 of the Credit Agreement, to designate the account to which a borrowing under the Credit Agreement is to be credited pursuant to Section 2.5(a) of the Credit Agreement and to make an Extension Request pursuant to Section 2.5(c) 2.3 of the Credit Agreement; (b) the Lessee shall have the right to exercise the conversion and continuation options pursuant to Section 2.7 of the Credit Agreement; (c) the Lessee shall have the right to approve any successor agent pursuant to Section 7.9 7.8 of the Credit Agreement; (d) the Lessee shall have the right to consent to any assignment by a Lender to which the Lessor has the right to consent pursuant to Section 9.8 of the Credit Agreement; and (e) without limiting the foregoing clauses (a) through (d), and in addition thereto, provided that no Event of Default then exists, the Lessee shall have the right to exercise any other right of the Owner Trustee under the Credit Agreement upon not less than five (5) Business Days' prior written notice from the Lessee to the Owner Trustee and the Agent.

Appears in 1 contract

Samples: Participation Agreement (Healthsouth Corp)

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