Common use of OBLIGATION OF THE LENDERS TO MITIGATE Clause in Contracts

OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.7, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) make, issue, fund or maintain the Commitments of such Lender or the affected Loans of such Lender through another lending office of such Lender or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.7 would be materially reduced and if, as determined by such Lender in its sole discretion, the making, issuing, funding or maintaining of such Commitments or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments or Loans or the interests of such Lender; provided that such Lender will not be obligated to utilize such other lending office pursuant to this Section 2.8 if such Lender would incur incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section 2.8 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Switch & Data, Inc.), Credit Agreement (Switch & Data Facilities Company, Inc.)

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OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section subsection 2.7, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) to make, issue, fund or maintain the Commitments Commitment of such Lender or the affected Loans of such Lender through another lending office of such Lender Lender, or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section subsection 2.7 would be materially reduced and if, as determined by such Lender in its sole discretionreasonable judgment, the making, issuing, funding or maintaining of such Commitments Commitment or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments Commitment or Loans or the interests of such Lender; provided PROVIDED, HOWEVER, that such Lender will not be obligated to utilize such other lending office pursuant to this Section subsection 2.8 if unless the Borrower agrees to pay all incremental expenses incurred by such Lender would incur incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section subsection 2.8 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Capstar Hotel Co)

OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.7., it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) make, issue, fund or maintain the Commitments of such Lender or the affected Loans of such Lender through another lending office of such Lender or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.7 2.7. would be materially reduced and if, as determined by such Lender in its sole discretion, the making, issuing, funding or maintaining of such Commitments or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments or Loans or the interests of such Lender; provided that such Lender will not be obligated to utilize such other lending office pursuant to this Section 2.8 2.8. if such Lender would incur incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower Borrowers pursuant to this Section 2.8 2.8. (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower Borrowers (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Fibernet Telecom Group Inc\)

OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section subsection 2.7, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) to make, issue, fund or maintain the Commitments Commitment of such Lender or the affected Loans of such Lender through another lending office of such Lender Lender, or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances circum stances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section subsection 2.7 would be materially reduced and if, as determined by such Lender in its sole discretionreason able judgment, the making, issuing, funding or maintaining of such Commitments Commitment or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments Commitment or Loans or the interests of such Lender; provided PROVIDED, HOWEVER, that such Lender will not be obligated to utilize such other lending office pursuant to this Section subsection 2.8 if unless the Borrower agrees to pay all incremental expenses incurred by such Lender would incur incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section subsection 2.8 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Capstar Hotel Co)

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OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.7., it will, to the extent not inconsistent ------------ with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) make, issue, fund or maintain the Commitments of such Lender or the affected Loans of such Lender through another lending office of such Lender or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.7 2.7. would be materially reduced and if, as determined by such Lender in ------------ its sole discretion, the making, issuing, funding or maintaining of such Commitments or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments or Loans or the interests of such Lender; provided that such Lender will not be obligated to utilize such other lending office pursuant to this Section 2.8 2.8. if such Lender would incur ------------ incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower Borrowers pursuant to this Section 2.8 2.8. (setting forth ------------ in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower Borrowers (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Fibernet Telecom Group Inc\)

OBLIGATION OF THE LENDERS TO MITIGATE. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.7this subsection 2.8, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (i) to make, issue, fund or maintain the Commitments Commitment of such Lender or the affected Loans of such Lender through another lending office of such Lender Lender, or (ii) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.7 this subsection 2.8 would be materially reduced and if, as determined by such Lender in its sole discretion, the making, issuing, funding or maintaining of such Commitments Commitment or Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Commitments Commitment or Loans or the interests of such Lender; provided provided, however, that such Lender will not be obligated to utilize such other lending office pursuant to this Section 2.8 if subsection 2.8D unless the Company agrees to pay all incremental expenses incurred by such Lender would incur incremental expenses as a result of utilizing such other lending office as described in clause (i) above. A certificate as to the amount of any such expenses payable by the Borrower Company pursuant to this Section 2.8 subsection 2.8D (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower Company (with a copy to the Administrative Agent) shall be conclusive and binding absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Prime Hospitality Corp)

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