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 Required 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 Required Lenders (determined after giving effect to Section 9.02) may by notice to the Borrower and such Person remove such Person as Administrative Agent and, with the consent of the Borrower (such consent not to be unreasonably withheld), 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 thirty (30) Business Days after the giving of such notice by the Required 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 Required Requisite Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” or “Potential Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender or a Potential Defaulting Lender, the Required Requisite Lenders (determined after giving effect to Section 9.0210.01) may by notice to the Borrower Borrowers and such Person remove such Person as Administrative Agent and, with the consent of the Borrower (such consent not to be unreasonably withheld), and appoint a replacement Administrative Agent hereunderreasonably acceptable to the Borrrowers. 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 thirty (30) 60 Business Days after the giving of such notice by the Required Requisite 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 Required Lenders determine that the Person serving as Administrative Agent is (without taking into account any provision in the definition of “Defaulting Lender” or “Potential Defaulting Lender” requiring notice from the Administrative Agent or any other party) a Defaulting Lender or a Potential Defaulting Lender, the Required Lenders (determined after giving effect to Section 9.0210.01) may by notice to the Borrower and such Person remove such Person as Administrative Agent and, with the consent of the Borrower (such consent not to be unreasonably withheld), and appoint a replacement Administrative Agent hereunderreasonably acceptable to the Borrower. 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 thirty (30) 60 Business Days after the giving of such notice by the Required Requisite 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 Required 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 LenderLender pursuant to clause (v) of the definition thereof, the Required Lenders Banks (determined after giving effect to Section 9.028.01) may by notice to the Borrower and such Person remove such Person as Administrative Agent and, with the consent of the Borrower (such consent not to be unreasonably withheldwithheld or delayed and not to be required if a Default or Event of Default has occurred and is continuing), 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 thirty (30) 30 Business Days after the giving of such notice by the Required Lenders Banks (regardless of whether a replacement Administrative Agent has been appointed) (the “Removal Effective Date”).