Common use of Replacement of an Affected Lender Clause in Contracts

Replacement of an Affected Lender. Borrowers may obtain, at Borrowers' expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrowers obtain a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection 9.5; provided, however, Borrowers have (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 or subsection 2.9, paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 or subsection 2.9 through the date of such sale and assignment; or

Appears in 2 contracts

Samples: Loan and Security Agreement (BNS Holding, Inc.), Loan and Security Agreement (BNS Holding, Inc.)

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Replacement of an Affected Lender. Borrowers may obtain, at Borrowers' expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Collateral Agent. In the event Borrowers obtain a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection 9.5; provided, however, Borrowers have (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 or subsection 2.9, paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 or subsection 2.9 through the date of such sale and assignment; or

Appears in 2 contracts

Samples: Loan and Security Agreement (Sun Healthcare Group Inc), Loan and Security Agreement (Sun Healthcare Group Inc)

Replacement of an Affected Lender. Borrowers Borrower may obtain, at Borrowers' Borrower's expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrowers obtain Borrower obtains a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' Borrower's intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection 9.59.5 (it being understood that no administrative fee shall be payable under subsection 9.5 in connection with such assignment); provided, however, Borrowers have (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2) Borrower has in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 or subsection 2.9, paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 or subsection 2.9 through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Banctec Inc)

Replacement of an Affected Lender. The Borrowers may obtain, at Borrowers' expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event the Borrowers obtain a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection Section 9.5; provided, however, the Borrowers have (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection Section 9.5 and, (2) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection Section 2.8 or subsection Section 2.9, paid all increased costs for which such Affected Lender is entitled to under subsection Section 2.8 or subsection Section 2.9 through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Rocky Brands, Inc.)

Replacement of an Affected Lender. Borrowers Borrower may obtain, at Borrowers' Borrower’s expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrowers obtain Borrower obtains a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' Borrower’s intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection 9.5; provided, however, Borrowers have Borrower has (1i) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2ii) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 2.9 or subsection 2.92.10, paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 2.9 or subsection 2.9 2.10 through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Beacon Roofing Supply Inc)

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Replacement of an Affected Lender. Borrowers Borrower may obtain, at Borrowers' Borrower’s expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrowers obtain Borrower obtains a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety one hundred twenty (90120) days following notice of Borrowers' Borrower’s intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection 9.5; provided, however, Borrowers have Borrower has (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 or subsection 2.92.9(B), paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 or subsection 2.9 2.9(B) through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Pizza Inn Holdings, Inc /Mo/)

Replacement of an Affected Lender. Borrowers Borrower may obtain, at Borrowers' Borrower’s expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrowers obtain that Borrower obtains a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments Revolving Loan Commitment hereunder within ninety (90) days following notice of Borrowers' Borrower’s intention to do so, the Affected Lender shall sell and assign its Loans Revolving Advances and Commitments Revolving Loan Commitment to such Replacement Lender in accordance with the provisions of subsection 9.5; provided, however, Borrowers have Borrower has (1i) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection 9.5 and, (2ii) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection 2.8 2.9 or subsection 2.92.10, paid all increased costs for which such Affected Lender is entitled to under subsection 2.8 2.9 or subsection 2.9 2.10 through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Beacon Roofing Supply Inc)

Replacement of an Affected Lender. The Borrowers may obtain, at Borrowers' expense, a replacement Lender ("Replacement Lender") for an Affected Lender, which Replacement Lender shall be reasonably satisfactory to Agent. In the event the Borrowers obtain a Replacement Lender that will purchase all outstanding Obligations owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrowers' intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with the provisions of subsection Section 9.5; provided, however, the Borrowers have (1) reimbursed such Affected Lender for any administrative fee payable by such Affected Lender to Agent pursuant to subsection Section 9.5 and, (2) in any case where such replacement occurs as the result of a demand for payment of certain costs pursuant to subsection Section 2.8 or subsection Section 2.9, paid all increased costs for which such Affected Lender is entitled to under subsection Section 2.8 or subsection Section 2.9 through the date of such sale and assignment; or

Appears in 1 contract

Samples: Loan and Security Agreement (Rocky Shoes & Boots Inc)

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