Common use of Replacement of Administrative Agent Clause in Contracts

Replacement of Administrative Agent. In the event that the Administrative Agent together with its Affiliates cease to hold at least 50% of the Principal Amount of the Loans, the Majority Lenders may (and, if requested by the outgoing Administrative Agent, shall within thirty (30) days of such request) appoint a new administrative agent to be the Administrative Agent for the Lenders, on prior written notice to and in consultation with the Borrower, and this Agreement shall be amended or supplemented to provide for such appointment.

Replacement of Administrative Agent. In the event that the Administrative Agent together with its Affiliates cease to hold at least 50% [REDACTED – Commercially Sensitive Information.]% of the Principal Amount of the Loans, the Majority Lenders may (and, if requested by the outgoing Administrative Agent, shall within thirty (30) days of such request) appoint a new administrative agent to be the Administrative Agent for the Lenders, on prior written notice to and in consultation with the Borrower, and this Agreement shall be amended or supplemented to provide for such appointment.

Replacement of Administrative Agent. In the event that the Administrative Agent together with its Affiliates cease ceases to hold at least 50% a majority of the Principal Amount principal amount of the LoansLoan, the Majority Lenders may (and, if requested by the outgoing Administrative Agent, shall within thirty (30) 30 days of such request) appoint a the new administrative agent Administrative Agent to be the Administrative Agent for the Lenders, on prior written notice to and in consultation with the Borrower, Lenders and this Agreement shall be amended or supplemented to provide for such appointment.

Replacement of Administrative Agent. In the event that the Administrative Agent together with its Affiliates cease ceases to hold at least 50% of the Principal Amount of the Loans, the Majority Lenders may (and, if requested by the outgoing Administrative Agent, shall within thirty (30) 30 days of such request) appoint a new administrative agent and collateral agent to be the Administrative Agent for the Lenders, on prior written notice to and in consultation with the Borrower, Lenders and this Agreement shall be amended or supplemented to provide for such appointment.