Common use of Removal and Replacement of Lenders Clause in Contracts

Removal and Replacement of Lenders. (a) Under any circumstances set forth herein providing that the Borrower shall have the right to remove or replace, as the case may be, a Lender as a party to this Agreement, the Borrower may, upon notice to such Lender and the Administrative Agent, (i) remove such Lender by terminating such Lender's Commitment and repay in full all principal, interest, fees, and other amounts owing or accrued to such Lender through the date of termination (including any amounts payable pursuant to Section 3.05), or (ii) replace such Lender by causing such Lender to assign all its Commitment and Loans (without payment of any assignment fee) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrower; provided that if the Borrower elects to exercise such right with respect to any Lender pursuant to Section 3.06(b), it shall be obligated to remove or replace, as the case may be, all Lenders that have made similar requests for compensation pursuant to Section 3.01 or 3.

Removal and Replacement of Lenders. (a) Under any circumstances set forth herein providing that the Borrower shall have the right to remove or replace, as the case may be, a Lender as a party to this Agreement, the Borrower may, upon notice to such Lender and the Administrative Agent, (i) remove such Lender by terminating such Lender's ’s Commitment and repay in full all principal, interest, fees, and other amounts owing or accrued to such Lender through the date of termination (including any amounts payable pursuant to Section 3.05), or (ii) replace such Lender by causing such Lender to assign all its Commitment Commitment, Loans, and Loans participations in L/C Obligations (without payment of any assignment fee) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrower; provided that that, if the Borrower elects to exercise such right with respect to any Lender pursuant to Section 3.06(b), it shall be obligated to remove or replace, as the case may be, all Lenders that have made similar requests for compensation pursuant to Section 3.01 or 3.

Removal and Replacement of Lenders. (a) Under If (1) (A) such Lender or the Person that controls such Lender has become insolvent or has become the subject of a bankruptcy, receivership or insolvency proceeding, and (B) such Lender has failed to fund any portion of its Committed Loans within one Business Day following the date required to be funded by it hereunder, unless cured; or (2) under any other circumstances set forth herein providing that the Borrower shall have the right to remove or replace, as the case may be, replace a Lender as a party to this Agreement, the Borrower may, upon notice to such Lender and the Administrative Agent, (i) remove such Lender by terminating such Lender's ’s Commitment and repay in full all principal, interest, fees, and other amounts owing or accrued to such Lender through the date of termination (including any amounts payable pursuant to Section 3.05), or (ii) replace such Lender by causing such Lender to assign all its Commitment and Loans (without payment by such Lender of any assignment fee) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrower; provided provided, however, that if the Borrower elects to exercise such right with respect to any Lender pursuant to Section 3.06(b), it they shall be obligated to remove or replace, as the case may be, all Lenders that have made similar requests for compensation pursuant to Section 3.01 or 3.

Removal and Replacement of Lenders. (a) Under If (1) (A) a Lender or the Person that controls such Lender has become insolvent or has become the subject of a bankruptcy, receivership or insolvency proceeding, and (B) such Lender has failed to fund any portion of its Committed Loans within one Business Day following the date required to be funded by it hereunder, unless cured; or (2) under any other circumstances set forth herein providing that the Borrower shall have the right to remove or replace, as the case may be, replace a Lender as a party to this Agreement, the Borrower may, upon notice to such Lender and the Administrative Agent, (i) remove such Lender by terminating such Lender's ’s Commitment and repay in full all principal, interest, fees, and other amounts owing or accrued to such Lender through the date of termination (including any amounts payable pursuant to Section 3.05), or (ii) replace such Lender by causing such Lender to assign all its Commitment and Loans (without payment by such Lender of any assignment fee) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrower; provided provided, however, that if the Borrower elects to exercise such right with respect to any Lender pursuant to Section 3.06(b), it they shall be obligated to remove or replace, as the case may be, all Lenders that have made similar requests for compensation pursuant to Section 3.01 or 3.