Common use of Removal and Replacement of Lenders Clause in Contracts

Removal and Replacement of Lenders. Under any circumstances set forth in this Agreement providing that Borrower shall have the right to remove and replace a Lender as a party to this Agreement, Borrower may, upon notice to such Lender and Administrative Agent, remove such Lender by causing such Lender to assign its Commitment to one or more other Lenders or Eligible Assignees acceptable to Borrower and Administrative Agent; provided, however, that during the existence of any Event of Default, Borrower may not remove or replace a Lender pursuant to this Section 10.23. Any removed or replaced Lender shall be entitled to (x) payment in full of all principal, interest, fees and other amounts owing to such Lender or such Lender’s affiliated Indemnitees under any Loan Document through the date of termination or assignment (including any amounts payable pursuant to Section 3.5 and any applicable prepayment compensation under Section 2.3) and (y) a release of such Lender from its obligations under the Loan Documents. Any Lender being replaced shall execute and deliver an Assignment and Assumption covering such Lender’s Commitment, and shall otherwise comply with Section 10.4 (and Borrower shall be responsible for payment of any processing and recordation fee payable under Section 10.4(b)(iv)). Administrative Agent shall distribute an amended Schedule 2.1, which shall thereafter be incorporated into this Agreement, to reflect adjustments to Lenders and their Commitments.

Removal and Replacement of Lenders. Under any circumstances set forth in this Agreement providing that Borrower shall have the right to remove and replace a Lender as a party to this Agreement, Borrower may, upon notice to such Lender and Administrative Agent, remove such Lender by causing such Lender to 105 assign its Commitment to one or more other Lenders or Eligible Assignees acceptable to Borrower Borrower, Administrative Agent and Administrative AgentIssuing Lender; provided, however, that during the existence of any Event of Default, Borrower may not remove or replace a Lender pursuant to this Section 10.23. Any removed or replaced Lender shall be entitled to (x) payment in full of all principal, interest, fees and other amounts owing to such Lender or such Lender’s affiliated Indemnitees under any Loan Document through the date of termination or assignment (including any amounts payable pursuant to Section 3.5 and any applicable prepayment compensation under Section 2.32.4), (y) appropriate assurances and indemnities (which may include letters of credit) as such Lender may reasonably require with respect to its participation interest in any Letters of Credit and (yz) a release of such Lender from its obligations under the Loan Documents. Any Lender being replaced shall execute and deliver an Assignment and Assumption covering such Lender’s Commitment, and shall otherwise comply with Section 10.4 (and Borrower shall be responsible for payment of any processing and recordation fee payable under Section 10.4(b)(iv)). Administrative Agent shall distribute an amended Schedule 2.1, which shall thereafter be incorporated into this Agreement, to reflect adjustments to Lenders and their Commitments.

Removal and Replacement of Lenders. (a) Under any circumstances set forth in this Agreement providing that Borrower Company shall have the right to remove and or replace a Lender as a party to this Agreement, Borrower Company may, upon notice to such Lender and Administrative Agent, remove such Lender by (i) non ratably terminating such Lender's Commitment (and thereby reducing the aggregate Commitments) and/or (ii) causing such Lender to assign its Commitment to one or more other Lenders or Eligible Assignees acceptable to Borrower and Administrative Agent; provided, however, that during the existence of any Event of Default, Borrower may not remove or replace a Lender procured by Company pursuant to this Section 10.2310.04(b). Any removed or replaced Lender Company shall be entitled to (x) payment pay in full of all principal, interest, interest and fees and other amounts owing to such Lender or such Lender’s affiliated Indemnitees under any Loan Document through the date of termination or assignment (including any amounts payable pursuant to Section 3.5 and any applicable prepayment compensation under Section 2.3) and 3.05), (y) a provide appropriate assurances and indemnities (which may include letters of credit) to such Lender as it may reasonably require with respect to its participation interest in any Letters of Credit, Fronted Offshore Currency Loans or any Swing Line Loans then outstanding and (z) release of such Lender from its obligations under the Loan Documents. Any Lender being replaced shall execute and deliver an Assignment and Assumption Acceptance covering such Lender’s 's Commitment, and shall otherwise comply with Section 10.4 (and Borrower shall be responsible for payment of any processing and recordation fee payable under Section 10.4(b)(iv)). Administrative Agent shall distribute an amended Schedule 2.12.01, which shall thereafter be incorporated into this Agreement, to reflect adjustments to Lenders and their Commitments. Company may net any payments required hereunder against any funds being provided in the same currency by any Lender or Eligible Assignee replacing a terminating Lender. The effect for purposes of this Agreement shall be the same as if separate transfers of funds had been made with respect thereto.

Removal and Replacement of Lenders. (a) Under any circumstances set forth in this Agreement providing that Borrower shall have the right to remove and or replace a Lender as a party to this Agreement, Borrower may, upon notice to such Lender and Administrative Agent, remove such Lender by (i) non ratably terminating such Lender's Commitment (and thereby reducing the aggregate Commitments) and/or (ii) causing such Lender to assign its Commitment to one or more other Lenders or Eligible Assignees acceptable to procured by Borrower and Administrative Agent; provided, however, that during the existence of any Event of Default, Borrower may not remove or replace a Lender pursuant to this Section 10.2310.04(b). Any removed or replaced Lender Borrower shall be entitled to (x) payment pay in full of all principal, interest, interest and fees and other amounts owing to such Lender or such Lender’s affiliated Indemnitees under any Loan Document through the date of termination or assignment (including any amounts payable pursuant to Section 3.5 and any applicable prepayment compensation under Section 2.3) and 3.05), (y) a provide appropriate assurances and indemnities (which may include letters of credit) to such Lender as it may reasonably require with respect to its participation interest in any Letters of Credit or any Swing Line Loans then outstanding and (z) release of such Lender from its obligations under the Loan Documents. Any Lender being replaced shall execute and deliver an Assignment and Assumption Acceptance covering such Lender’s 's Commitment, and shall otherwise comply with Section 10.4 (and Borrower shall be responsible for payment of any processing and recordation fee payable under Section 10.4(b)(iv)). Administrative Agent shall distribute an amended Schedule 2.12.01, which shall thereafter be incorporated into this Agreement, to reflect adjustments to Lenders and their Commitments. Borrower may net any payments required hereunder against any funds being provided in the same currency by any Lender or Eligible Assignee replacing a terminating Lender. The effect for purposes of this Agreement shall be the same as if separate transfers of funds had been made with respect thereto.