Common use of Removal of a Lender Clause in Contracts

Removal of a Lender. Parent and the Borrowers shall have the right to remove a Lender as a party to this Agreement pursuant to this Section in the event that such Lender (a) refuses to consent to an extension of the Maturity Date requested by Parent and the Borrowers in accordance with Section 2.12 which has been consented to by Lenders holding Pro Rata Share equal to or greater than 66 2/3% of the Commitment, or (b) requests compensation under Section 3.7 or Section 3.8 which has not been requested by all other Lenders, in each case by written notice to the Administrative Agent and such Lender within 60 days following any such refusal or request or (c) refuses to consent to certain proposed changes, waivers, modifications, supplements, terminations, waivers or consents with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.2, provided that no Default or Event of Default then exists, or (d) is the subject of a Disqualification. If Parent and the Borrowers are entitled to remove a Lender pursuant to this Section either:

Appears in 1 contract

Samples: Assignment Agreement (Harrahs Entertainment Inc)

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Removal of a Lender. Parent and the Borrowers shall have the right to remove a Lender as a party to this Agreement pursuant to this Section in the event that such -69- Lender (a) refuses to consent to an extension of the Maturity Date requested by Parent and the Borrowers in accordance with Section 2.12 2.8 which has been consented to by Lenders holding Pro Rata Share equal to or greater than 66 2/3% of the Commitment, or (b) requests compensation under Section 3.7 3.6 or Section 3.8 3.7 which has not been requested by all other Lenders, in each case by written notice to the Administrative Agent and such Lender within 60 days following any such refusal or request or (c) refuses to consent to certain proposed changes, waivers, modifications, supplements, terminations, waivers or consents with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.2, provided PROVIDED that no Default or Event of Default then exists, or (d) is the subject of a Disqualification. If Parent and the Borrowers are entitled to remove a Lender pursuant to this Section either:

Appears in 1 contract

Samples: Day Loan Agreement (Harrahs Entertainment Inc)

Removal of a Lender. Parent and the Borrowers shall have the right to remove a Lender as a party to this Agreement pursuant to this Section in the event that such Lender (a) refuses to consent to an extension of the Maturity Date requested by Parent and the Borrowers in accordance with Section 2.12 which has been consented to by Lenders holding Pro Rata Share equal to or greater than 66 2/3% of the Commitment, or (b) requests compensation under Section 3.7 or Section 3.8 which has not been requested by all other Lenders, in each case by written notice to the Administrative Agent and such Lender within 60 days following any such refusal or request request, or (c) refuses to consent to certain proposed changes, waivers, modifications, supplements, terminations, waivers or consents with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.2, provided that no Default or Event of Default then exists, or (d) is the subject of a Disqualification. If Parent and the Borrowers are entitled to remove a Lender pursuant to this Section either:

Appears in 1 contract

Samples: Five Year Loan Agreement (Harrahs Entertainment Inc)

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Removal of a Lender. Parent and the Borrowers shall have the right to remove a Lender as a party to this Agreement pursuant to this Section in the event that such Lender (a) refuses to consent to an extension of the Maturity Date requested by Parent and the Borrowers in accordance with Section 2.12 2.8 which has been consented to by Lenders holding Pro Rata Share equal to or greater than 66 2/3% of the Commitment, or (b) requests compensation under Section 3.7 3.6 or Section 3.8 3.7 which has not been requested by all other Lenders, in each case by written notice to the Administrative Agent and such Lender within 60 days following any such refusal or request or (c) refuses to consent to certain proposed changes, waivers, modifications, supplements, terminations, waivers or consents with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.2, provided PROVIDED that no Default or Event of Default then exists, or (d) is the subject of a Disqualification. If Parent and the Borrowers are entitled to remove a Lender pursuant to this Section either:

Appears in 1 contract

Samples: Day Loan Agreement (Harrahs Entertainment Inc)

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