Common use of Mandatory Resignation of Agent Clause in Contracts

Mandatory Resignation of Agent. The Agent shall be obligated to resign in accordance with, and subject to, the provisions of §14.9, without the consent of the Borrower , upon the written request of Lenders whose aggregate Commitments constitute at least sixty-six percent (66%) of the Total Commitment, excluding the Lender which is then the Agent hereunder, provided such request is made as a result of the Agent’s gross negligence or willful misconduct, and provided further that the successor Agent actively administers credits of similar size and complexity to this Agreement and the Loans.

Mandatory Resignation of Agent. The Agent shall be obligated to resign in accordance with, and subject to, the provisions of §§ 14.9, without the consent of the Borrower Borrower, upon the written request of Lenders whose aggregate Commitments constitute at least sixty-six percent (66%) of the Total Commitmentall Lenders, excluding the Lender which is then the Agent hereunder, provided such request is made as a result of the Agent’s 's gross negligence or willful misconduct, and provided further that the successor Agent actively administers credits of similar size and complexity to this Agreement and the Loans.

Mandatory Resignation of Agent. The Agent shall be obligated to resign in accordance with, and subject to, the provisions of §Section 14.9, without the consent of the Borrower , upon the written request of Lenders whose aggregate Commitments constitute at least sixty-six percent (66%) of the Total Commitment, Commitment excluding the Commitment of the Lender which is then the Agent hereunder, provided such request is made as a result of the Agent’s gross negligence or willful misconductfor cause, and provided further that the successor Agent (a) is at least a managing agent with respect to this Agreement, and (b) actively administers credits of similar size and complexity to this Agreement and the Loans.

Mandatory Resignation of Agent. The Agent shall be obligated to resign in accordance with, and subject to, the provisions of §§ 14.9, without the consent of the Borrower , upon the written request of Lenders whose aggregate Commitments constitute at least sixty-six percent (66%) of the Total Commitmentall Lenders, excluding the Lender which is then the Agent hereunder, provided such request is made as a result of the Agent’s gross negligence or willful misconduct, and provided further that the successor Agent actively administers credits of similar size and complexity to this Agreement and the Loans.