Common use of Removal of Administrative Agent Clause in Contracts

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.01) may by notice to the Borrower and such Person remove such Person as Administrative Agent and appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (i) the date a replacement Administrative Agent is appointed and (ii) the date 30 days after the giving of such notice by the Majority Lenders (regardless of whether a replacement Administrative Agent has been appointed).

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.018.1) may by notice to the Borrower and such Person remove such Person as Administrative Agent and appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (i) the date a replacement Administrative Agent is appointed and (ii) the date 30 days after the giving of such notice by the Majority Lenders (regardless of whether a replacement Administrative Agent has been appointed).

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders Banks determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.01) Banks may by notice to the Borrower Parent and such Person remove such Person as Administrative Agent and and, in consultation with the Parent, appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (ia) the date a replacement Administrative Agent is appointed and (iib) the date 30 days after the giving of such notice by the Majority Lenders Banks (regardless of whether a replacement Administrative Agent has been appointed).

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders Banks determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “"Defaulting Lender” " requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.01) Banks may by notice to the Borrower Parent and such Person remove such Person as Administrative Agent and and, in consultation with the Parent, appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (i) the date a replacement Administrative Agent is appointed and (ii) the date 30 days after the giving of such notice by the Majority Lenders Banks (regardless of whether a replacement Administrative Agent has been appointed).

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.01) may by notice to the Borrower and such Person remove such Person as Administrative Agent and appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (ia) the date a replacement Administrative Agent is appointed and (iib) the date 30 days after the giving of such notice by the Majority Lenders (regardless of whether a replacement Administrative Agent has been appointed).

Removal of Administrative Agent. Anything herein to the contrary notwithstanding, if at any time the Majority Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender, the Majority Lenders (determined after giving effect to Section 8.018.1) may by notice to the Borrower and such Person remove such Person as Administrative Agent and appoint a replacement Administrative Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (ia) the date a replacement Administrative Agent is appointed and (iib) the date 30 days after the giving of such notice by the Majority Lenders (regardless of whether a replacement Administrative Agent has been appointed).