Common use of Mitigation of Circumstances; Replacement of Lenders Clause in Contracts

Mitigation of Circumstances; Replacement of Lenders. (a) Each --------------------------------------------------- Lender shall promptly notify the Loan Parties 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 Lender's sole judgment, otherwise disadvantageous to such Lender) to mitigate or avoid, (i) any obligation by the Loan Parties to pay any amount pursuant to Sections 7.6 or 8.1 or (ii) the occurrence of any circumstances described in ------------ --- Sections 8.2 or 8.3 (and, if any Lender has given notice of any such event ------------ --- described in clause (i) or (ii) above and thereafter such event ceases to exist, such Lender shall promptly so notify the Loan Parties and the Administrative Agent). Without limiting the foregoing, each Lender will designate a different funding office if such designation will avoid (or reduce the cost to the Loan Parties of) any event described in clause (i) or (ii) above and such designation will not, in such Lender's sole judgment, be otherwise disadvantageous to such Lender.

Appears in 1 contract

Samples: Credit Agreement (Kv Pharmaceutical Co /De/)

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Mitigation of Circumstances; Replacement of Lenders. (ai) Each --------------------------------------------------- Lender shall promptly notify the Loan Parties Borrower and the Administrative Agent in writing of any event of which it has knowledge which will result in, and will use commercially reasonable commercial efforts available to it (and not, in such Lender's ’s sole judgment, otherwise disadvantageous to such Lender) to mitigate or avoid, (iA) any obligation by the Loan Parties Borrower to pay any amount pursuant to Sections 7.6 3.9 or 8.1 3.10(a) or (iiB) the occurrence of any circumstances described in ------------ --- Sections 8.2 3.10(b) or 8.3 3.10(c) (and, if any Lender has given notice of any such event ------------ --- described in clause (ia) or (iib) above and thereafter such event ceases to exist, such Lender shall promptly so notify the Loan Parties Borrower and the Administrative Agent). Without limiting the foregoing, each Lender will designate a different funding office if such designation will avoid (or reduce the cost to the Loan Parties Borrower of) any event described in clause (ia) or (iib) above and such designation will not, in such Lender's ’s sole but reasonable judgment, be otherwise disadvantageous to such Lender. Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

Appears in 1 contract

Samples: Loan and Security Agreement (FrontView REIT, Inc.)

Mitigation of Circumstances; Replacement of Lenders. (a) Each --------------------------------------------------- Lender shall promptly notify the Loan Parties Co-Borrowers 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 Lender's ’s sole judgment, otherwise disadvantageous to such Lender) to mitigate or avoid, (i) any obligation by the Loan Parties Co-Borrowers to pay any amount pursuant to Sections 7.6 or 8.1 8.1, or (ii) the occurrence of any circumstances described in ------------ --- Sections 8.2 or 8.3 (and, if any Lender has given notice of any such event ------------ --- described in clause (i) or (ii) above and thereafter such event ceases to exist, such Lender shall promptly so notify the Loan Parties Co-Borrowers and the Administrative Agent). Without limiting the foregoing, each Lender will designate a different funding office if such designation will avoid (or reduce the cost to the Loan Parties Co-Borrowers of) any event described in clause (i) or (ii) above and such designation will not, in such Lender's ’s sole judgment, be otherwise disadvantageous to such Lender.

Appears in 1 contract

Samples: Credit Agreement (FreightCar America, Inc.)

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

Appears in 1 contract

Samples: Credit Agreement (Baldwin Technology Co Inc)

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