Common use of Mitigation of Circumstances Clause in Contracts

Mitigation of Circumstances. 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 7.3(a) or (ii) the occurrence of any circumstances of the nature described in Section 7.3(b) or 7.3(c) (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: Revolving Credit Agreement (NPC International Inc), Revolving Credit Agreement (NPC International Inc), Revolving Credit Agreement (NPC International Inc)

AutoNDA by SimpleDocs

Mitigation of Circumstances. Each Bank shall promptly notify the Company and the Agent Borrower 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 ’s sole judgment, otherwise disadvantageous to such Bank) to mitigate or avoid, (i) any obligation by the Company Borrower to pay any amount pursuant to Section 7.3(aSections 2(e)(1) or (ii) the occurrence of any circumstances of the nature described in Section 7.3(bSections 2(e)(2) or 7.3(c2(e)(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 AgentBorrower). Without limiting the foregoing, each Bank will designate a different funding office if such designation will avoid (or reduce the cost to the Company Borrower of) any event described in clause (i) or (ii) of the preceding sentence above and such designation will not, in such Bank's ’s sole judgment, be otherwise materially disadvantageous to such Bank.

Appears in 3 contracts

Samples: Revolving Loan Agreement, Revolving Loan Agreement (Runway Growth Credit Fund Inc.), Demand Loan Agreement (Runway Growth Credit Fund Inc.)

Mitigation of Circumstances. Each (a) The 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 the Bank's good faith sole judgment, otherwise disadvantageous to such the Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.3(a) 7.5 or 8.1 or ----------- --- (ii) the occurrence of any circumstances of the nature described in Section 7.3(b) 8.2 or 7.3(c) 8.3 (and, ----------- --- if any the Bank has given notice of any such event described in clause (i) or (ii) ---------- ---- above and thereafter such event ceases to exist, such the Bank shall promptly so notify the Company and the AgentCompany). Without limiting the foregoing, each the 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 the Bank's sole judgment, be otherwise disadvantageous to such the Bank.

Appears in 1 contract

Samples: Credit Agreement (World Fuel Services Corp)

Mitigation of Circumstances. 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 7.3(a8.3(a) or (ii) the occurrence of any circumstances of the nature described in Section 7.3(b8.3(b) or 7.3(c8.3(c) (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 judgment, be otherwise disadvantageous to such Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (NPC International Inc)

AutoNDA by SimpleDocs

Mitigation of Circumstances. Each The 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 the Bank's good faith ’s sole judgment, otherwise be disadvantageous to such the Bank) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.3(a) 7.5 or 8.1 or (ii) the occurrence of any circumstances of the nature described in Section 7.3(b) 8.2 or 7.3(c) 8.3 (and, if any the Bank has given notice of any such event described in clause (i) or (ii) above and thereafter such event ceases to exist, such the Bank shall promptly so notify the Company and the AgentCompany). Without limiting the foregoing, each the 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 the Bank's ’s sole judgment, be otherwise disadvantageous to such the Bank.

Appears in 1 contract

Samples: Credit Agreement (Navteq Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!