Common use of Removal of Defaulting Lender Clause in Contracts

Removal of Defaulting Lender. At the Borrowers' request, the Agent or an Eligible Assignee reasonably acceptable to the Agent and the Borrowers shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and assign to the Agent or such Eligible Assignee, all of the Defaulting Lender's outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an Assignment and Acceptance, and at a price equal to the outstanding principal balance of the Defaulting Lender's Loans, plus accrued interest and fees (except any fees in connection with such sale that would otherwise arise under SECTION 4.4 hereof, for which the Borrowers shall not be liable), without premium or discount.

Removal of Defaulting Lender. At the Borrowers' Borrower's request, the Agent or an Eligible Assignee reasonably acceptable to the Agent and the Borrowers Borrower shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and assign to the Agent or such Eligible Assignee, all of the Defaulting Lender's outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an Assignment and Acceptance, and at a price equal to the outstanding principal balance of the Defaulting Lender's Loans, plus accrued interest and fees (except any fees in connection with such sale that would otherwise arise under SECTION Section 4.4 hereof, for which the Borrowers Borrower shall not be liable), without premium or discountdiscount .

Removal of Defaulting Lender. At the Borrowers' Borrower’s request, the Agent or an Eligible Assignee reasonably acceptable to the Agent and the Borrowers Borrower shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and assign to the Agent or such Eligible Assignee, all of the Defaulting Lender's ’s outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an Assignment and Acceptance, and at a price equal to the outstanding principal balance of the Defaulting Lender's ’s Loans, plus accrued interest and fees (except any fees in connection with such sale that would otherwise arise under SECTION Section 4.4 hereof, for which the Borrowers Borrower shall not be liable), without premium or discount.

Removal of Defaulting Lender. At the Borrowers' Borrower's request, the Agent or an Eligible Assignee reasonably acceptable to the Agent and the Borrowers Borrower shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and assign to the Agent or such Eligible Assignee, all of the Defaulting Lender's outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an Assignment and Acceptance, and at a price equal to the outstanding principal balance of the Defaulting Lender's Loans, plus accrued interest and fees (except any fees in connection with such sale that would otherwise arise under SECTION 4.4 hereof, for which the Borrowers Borrower shall not be liable), without premium or discountdiscount .