Common use of Mitigation of Circumstances; Replacement of Affected Bank Clause in Contracts

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 3 contracts

Samples: Credit Agreement (United Rentals Inc), Credit Agreement (United Road Services Inc), Credit Agreement (United Road Services Inc)

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Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Administrative Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances circumstance of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Administrative Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 3 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances circumstance of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 2 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 2 contracts

Samples: Credit Agreement (United Waste Systems Inc), Credit Agreement (United Road Services Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Santi Group Inc /Ga)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Usa Waste Services Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company Borrowers and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company Borrowers to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company Borrowers and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company Borrowers of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Bogen Communications International Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence of ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Elgin National Industries Inc)

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Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Administrative Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Administrative Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Earthcare Co)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Administrative Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's ’s good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances circumstance of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company and the Administrative Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's ’s sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company Borrowers and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company either Borrower to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- of any circumstances of the nature described in Section 8.2 or 8.3 (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly so notify the Company Borrowers and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company Borrowers of) any event described in clause (i) or (ii) of the ---------- ---- preceding sentence and such designation will not, in such Bank's sole good faith judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Heisley Michael E Et Al)

Mitigation of Circumstances; Replacement of Affected Bank. (a) Each --------------------------------------------------------- Bank shall promptly notify the Company and the Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Bank's good faith judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence ----------- --- occurrence of any circumstances of the nature described in Section 8.2 or 8.3 ----------- --- (and, if any ----------- --- Bank has given notice of any such event described in clause (i) or ---------- (ii) above ---------- ---- and thereafter such event ceases to exist, such Bank shall promptly ---- so notify the Company and the Agent). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) of the ---------- ---- the preceding sentence and such designation will not, in such Bank's sole judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Credit Agreement (United Rentals Inc)

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