Common use of Rejecting Lenders Clause in Contracts

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection (c), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extension, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection subsections (c) and (d), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extension, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection subsections (c) and (d), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Rejected Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-then current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extension, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection (c), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-then current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan ExtensionDate, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a)Lenders, but subject to the following subsection (c), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan Loans owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b12.8(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any other amounts due and payable to such Rejecting Lender under Section 5.4pursuant to this Agreement, any such assignment to be effective as of the then-then current Revolving Loan Termination DateMaturity Date (or such earlier date as Borrower may elect), or (ii) to pay pay, at any time on or prior to the then-current Maturity Date, the Purchase Price to such Rejecting Lender, Lender effective as of the then-current Revolving Loan Termination Maturity Date in the event of a rejected Revolving Loan Extension(or such earlier date as Borrower may elect), whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to Notwithstanding the preceding subsection (ab), but subject to if the following subsection Borrower receives notification from the Agent that a request for an extension of the Termination Date has been rejected (ca “Notice of Rejection”), and provided that the Lenders comprising the Requisite Lenders have approved of such request, the Borrower may elect, with respect to each such Rejecting Lender, by giving written notice to the Administrative Agent and of such Rejecting Lenderelection within 30 days after receipt by the Borrower of a Notice of Rejection, to either (i) to require a Rejecting Lender to, and such Rejecting Lender shallto assign its Commitment to an Eligible Assignee as contemplated in the immediately following clause (x) or (ii) pay in full the amount of Loans, assign the Revolving Commitment interest and Revolving Loan fees owing to such Rejecting Lender and terminate such Rejecting Lender’s Commitment as contemplated in the event immediately following clause (y). If the Borrower has made a timely election as permitted by the preceding sentence, then the Borrower shall take either of a rejected Revolving Loan Extension the following actions as specified in such election: (x) demand that such Rejecting Lender, and upon such demand such Rejecting Lender shall be obligated to, assign its Commitment to an Eligible Assignee specified by the Borrower, subject to and in accordance with the provisions of Section 13.6(b), 13.6.(c) for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, Lender plus (B) any accrued but unpaid interest thereon and accrued but unpaid fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-current Revolving Loan Termination Date or (y) effective as of the current Termination Date, or (ii) pay to pay such Rejecting Lender the Purchase Price aggregate principal balance of Loans then outstanding and owing to such Rejecting Lender plus any accrued but unpaid interest thereon and accrued but unpaid fees owing to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extensiontogether with all amounts, if any, payable under Section 5.4., whereupon such Rejecting Lender’s Revolving Commitment shall terminate. Each of the Agent, the aggregate amount of the Commitments shall be so reduced, Borrower and the Revolving Loans owing to the Rejecting Lender shall reasonably cooperate in effectuating the replacement of such Rejecting Lender under this Section, provided, however, that neither the Agent, such Rejecting Lender, nor any other Lender shall be obligated in any way whatsoever to initiate any such replacement or to assist in finding an Assignee. If the Borrower has elected to cause all Rejecting Lenders either to assign their Commitments to Eligible Assignees as contemplated by the preceding clause (x) or to be paid the amounts specified in the preceding clause (y), then the Borrower’s request for an extension which was initially rejected shall be deemed fully paid to have been granted and dischargedaccordingly the Termination Date shall be extended by one single year, otherwise the Termination Date shall not be extended.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection (c), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-then current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, Lender effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan ExtensionDate, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to Notwithstanding the preceding subsection (a), but subject to if the following subsection Borrower receives notification from the Agent that an Extension Request has been rejected (ca "Notice of Rejection"), and provided that the Lenders comprising the Requisite Lenders have approved of such Extension Request, the Borrower may elect, with respect to each such Rejecting Lender, by giving written notice to the Administrative Agent and of such Rejecting Lenderelection within 15 days after receipt by the Borrower of a Notice of Rejection, to either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, to assign the its Revolving Commitment to an Eligible Assignee as contemplated in the immediately following clause (x) or (ii) pay in full the amount of Loans (excluding Construction Advances), interest and Revolving Loan fees owing to such Rejecting Lender and terminate such Rejecting Lender's Revolving Commitment as contemplated in the event immediately following clause (y). If the Borrower has made a timely election as permitted by the preceding sentence, then the Borrower shall take either of a rejected the following actions as specified in such election: (x) demand that such Rejecting Lender, and upon such demand such Rejecting Lender shall be obligated to, assign its Revolving Loan Extension Commitment to an Eligible Assignee specified by the Borrower, subject to and in accordance with the provisions of Section 13.6(b), 13.5.(c) for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans (excluding Construction Advances) then outstanding and owing to such Rejecting Lender, Lender plus (B) any accrued but unpaid interest thereon and accrued but unpaid fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-current Revolving Loan Credit Termination Date or (y) effective as of the current Revolving Credit Termination Date, or pay to such Rejecting Lender the aggregate principal balance of Loans (iiexcluding Construction Advances) then outstanding and owing to pay the Purchase Price such Rejecting Lender plus any accrued but unpaid interest thereon and accrued but unpaid fees owing to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extensiontogether with all amounts, if any, payable under Section 6.4., whereupon such Rejecting Lender’s 's Revolving Commitment shall terminate. Neither the Agent, the aggregate amount of the Commitments shall be so reducedsuch Rejecting Lender, and the Revolving Loans owing to the Rejecting nor any other Lender shall be obligated in any way whatsoever to initiate any such replacement or to assist in finding an Assignee. If the Borrower has elected to cause all Rejecting Lenders either to assign their Revolving Commitments to Eligible Assignees as contemplated by the preceding clause (x) or to be paid the amounts specified in the preceding clause (y), then the Borrower's Extension Request which was initially rejected shall be deemed fully paid to have been granted and dischargedaccordingly the Revolving Credit Termination Date shall be extended by one single year, otherwise the Revolving Credit Termination Date shall not be extended.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to the preceding subsection (a), but subject to the following subsection subsections (c) and (d), the Borrower may elect, with respect to each Rejecting Lender, by written notice to the Administrative Agent and such Rejecting Lender, either (i) to require a Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with Section 13.6(b), for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, plus (B) any accrued but unpaid interest and fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-then current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extension, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, and the Revolving Loans owing to the Rejecting Lender shall be deemed fully paid and discharged.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to Notwithstanding the preceding subsection (ab), but subject to if the following subsection Borrower receives notification from the Administrative Agent that an Extension Request of the Termination Date under the immediately preceding clause (cb) has been rejected (a “Notice of Rejection”), and provided that the Lenders comprising the Requisite Lenders have approved of such request, the Borrower may elect, with respect to each such Rejecting Lender, by giving written notice to the Administrative Agent and of such Rejecting Lenderelection within 30 days after receipt by the Borrower of a Notice of Rejection, to either (i) to require a Rejecting Lender to, and such Rejecting Lender shallto assign its Commitment to an Eligible Assignee as contemplated in the immediately following clause (x) or (ii) pay in full the amount of Loans, assign the Revolving Commitment interest and Revolving Loan fees owing to such Rejecting Lender and terminate such Rejecting Lender’s Commitment as contemplated in the event immediately following clause (y). If the Borrower has made a timely election as permitted by the preceding sentence, then the Borrower shall take either of a rejected Revolving Loan Extension the following actions as specified in such election: (x) demand that such Rejecting Lender, and upon such demand such Rejecting Lender shall be obligated to, assign its Commitment to an Eligible Assignee specified by the Borrower, subject to and in accordance with the provisions of Section 13.6(b), 13.6.(b) for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, Lender plus (B) any accrued but unpaid interest thereon and accrued but unpaid fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of or on a date prior to the then-then current Revolving Loan Termination Date or (y) effective as of the current Termination Date, or (ii) pay to pay such Rejecting Lender the Purchase Price aggregate principal balance of Loans then outstanding and owing to such Rejecting Lender plus any accrued but unpaid interest thereon and accrued but unpaid fees owing to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extensiontogether with all amounts, if any, payable under Section 5.4., whereupon such Rejecting Lender’s Revolving Commitment shall terminate. Each of the Administrative Agent, the aggregate amount of the Commitments shall be so reduced, Borrower and the Revolving Loans owing to the Rejecting Lender shall reasonably cooperate in effectuating the replacement of such Rejecting Lender under this Section, provided, however, that neither the Administrative Agent, such Rejecting Lender, nor any other Lender shall be obligated in any way whatsoever to initiate any such replacement or to assist in finding an Eligible Assignee. If the Borrower has elected to cause all Rejecting Lenders either to assign their Commitments to Eligible Assignees as contemplated by the preceding clause (x) or to be paid the amounts specified in the preceding clause (y), then the Borrower’s request for an extension which was initially rejected shall be deemed fully paid to have been granted and dischargedaccordingly the Termination Date shall be extended by one single year, otherwise the Termination Date shall not be extended.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to Notwithstanding the preceding subsection (ab), but subject to if the following subsection Borrower receives notification from the Agent that a request for an extension of the Termination Date has been rejected (ca "Notice of Rejection"), and provided that the Lenders comprising the Requisite Lenders have approved of such request, the Borrower may elect, with respect to each such Rejecting Lender, by giving written notice to the Administrative Agent and of such Rejecting Lenderelection within 30 days after receipt by the Borrower of a Notice of Rejection, to either (i) to require a Rejecting Lender to, and such Rejecting Lender shallto assign its Commitment to an Eligible Assignee as contemplated in the immediately following clause (x) or (ii) pay in full the amount of Loans, assign the Revolving Commitment interest and Revolving Loan fees owing to such Rejecting Lender and terminate such Rejecting Lender's Commitment as contemplated in the event immediately following clause (y). If the Borrower has made a timely election as permitted by the preceding sentence, then the Borrower shall take either of a rejected Revolving Loan Extension the following actions as specified in such election: (x) demand that such Rejecting Lender, and upon such demand such Rejecting Lender shall be obligated to, assign its Commitment to an Eligible Assignee specified by the Borrower, subject to and in accordance with the provisions of Section 13.6(b), 13.6.(c) for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, Lender plus (B) any accrued but unpaid interest thereon and accrued but unpaid fees related to such Revolving Loans owing to such Rejecting Lender, plus (C) any amounts payable to such Rejecting Lender under Section 5.4, any such assignment to be effective as of the then-current Revolving Loan Termination Date or (y) effective as of the current Termination Date, or (ii) pay to pay such Rejecting Lender the Purchase Price aggregate principal balance of Loans then outstanding and owing to such Rejecting Lender plus any accrued but unpaid interest thereon and accrued but unpaid fees owing to such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extensiontogether with all amounts, if any, payable under Section 5.4., whereupon such Rejecting Lender’s Revolving 's Commitment shall terminate. Each of the Agent, the aggregate amount of the Commitments shall be so reduced, Borrower and the Revolving Loans owing to the Rejecting Lender shall reasonably cooperate in effectuating the replacement of such Rejecting Lender under this Section, provided, however, that neither the Agent, such Rejecting Lender, nor any other Lender shall be obligated in any way whatsoever to initiate any such replacement or to assist in finding an Assignee. If the Borrower has elected to cause all Rejecting Lenders either to assign their Commitments to Eligible Assignees as contemplated by the preceding clause (x) or to be paid the amounts specified in the preceding clause (y), then the Borrower's request for an extension which was initially rejected shall be deemed fully paid to have been granted and dischargedaccordingly the Termination Date shall be extended by one single year, otherwise the Termination Date shall not be extended.

Rejecting Lenders. Within fifteen (15) days after the date the Borrower receives notice of the Rejecting Lenders pursuant to Notwithstanding the preceding subsection (a), but subject after notification from the Agent that an Extension Request has been rejected, the Termination Date shall be extended as requested in such Extension Request if (i) Lenders holding Commitments equal to or greater than $125,000,000 in aggregate amount consented to such Extension Request, (ii) no later than the date 30 days following subsection (c)the Current Anniversary Date, the Borrower may elect, with respect to each Rejecting Lender, by shall have given written notice to the Administrative Agent and each Lender that the Borrower desires the Termination Date to be so extended notwithstanding such Rejecting Lenderrejection and (iii) the Borrower shall have, either no later than 90 days prior to the Termination Date at the time of the Extension Request in question, (ix) to require a caused each Rejecting Lender to, and such Rejecting Lender shall, assign the Revolving to have assigned its respective Commitment and Revolving Loan owing to such Rejecting Lender in the event of a rejected Revolving Loan Extension to an Eligible Assignee specified by the Borrower, subject to and in accordance with the provisions of Section 13.6(b), 13.5.(d) for a purchase price (“Purchase Price”) equal to (A) the aggregate principal balance of the Revolving Loans then outstanding and owing to such Rejecting Lender, Lender plus (B) any accrued but unpaid interest thereon and accrued but unpaid fees related to such Revolving Loans and other amounts then owing to such Rejecting Lender under the Loan Documents, and (y) to the extent the Commitment of any Rejecting Lender is not so assigned by such date, paid to such Rejecting Lender the aggregate principal balance of Loans then owing to such Rejecting Lender plus any accrued but unpaid interest thereon and accrued but unpaid fees and other amounts then owing to such Rejecting Lender under the Loan Documents, whereupon such Rejecting Lender's Commitment shall terminate, such Rejecting Lender shall no longer be a party hereto or have any rights or obligations hereunder or under any of the other Loan Documents. In addition, in connection with any such assignment by a Rejecting Lender or any such payment to a Rejecting Lender, plus (C) any amounts payable to the Borrower shall pay the amounts, if any, due such Rejecting Lender under Section 5.4. If the Borrower desires to cause any Rejecting Lender to assign its Commitment pursuant to this subsection, any such assignment to be effective as of the then-current Revolving Loan Termination Date, or (ii) to pay the Purchase Price to Borrower shall so notify such Rejecting Lender, effective as of the then-current Revolving Loan Termination Date in the event of a rejected Revolving Loan Extension, whereupon such Rejecting Lender’s Revolving Commitment shall terminate, the aggregate amount of the Commitments shall be so reduced, Agent and the Revolving Loans owing other Lenders in writing no later than the date 120 days prior to the current Termination Date. A Rejecting Lender shall be deemed fully paid obligated to assign its Commitment pursuant to this subsection if requested to do so by the Borrower. Each Lender that is not a Rejecting Lender shall have the right (but not the obligation) to acquire such Rejecting Lender's Commitment and discharged.shall exercise such right by giving written notice thereof to the Agent no later than 10 Business Days of receipt of the Borrower's