Common use of Mitigation Obligations; Replacement of a Lender Clause in Contracts

Mitigation Obligations; Replacement of a Lender. (a) If any Lender requests compensation under Section 2.16, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans made hereunder or assign its rights and obligations hereunder to another of its offices, branches or Affiliates if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.16 or 2.17, as applicable, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any respect. The Borrower hereby agrees to pay all reasonable and documented out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment.

Appears in 2 contracts

Samples: Equity Bridge Credit and Guaranty Agreement (Concordia Healthcare Corp.), Two Year Equity Bridge Credit and Guaranty Agreement (Concordia Healthcare Corp.)

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Mitigation Obligations; Replacement of a Lender. (a) If any Lender requests compensation under Section 2.162.15, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any such Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans made hereunder or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.16 2.15 or 2.17, as applicablethe case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any respectLender. The Borrower hereby agrees agree to pay all reasonable and documented out-of-pocket costs and expenses incurred by any such Lender in connection with any such designation or assignment.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Resorts International Hotel & Casino Inc)

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