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