Common use of Replacement of Impaired Agent Clause in Contracts

Replacement of Impaired Agent. If, at any time, the Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Borrower to the Lenders, the Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Administrative Agent, and such successor Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Administrative Agent and the removed Administrative Agent shall be discharged from all of its duties as Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Borrower from time to time at the Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 shall constitute a waiver or release by the Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.

Replacement of Impaired Agent. If, at any time, the Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Borrower to the Lenders, the Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Administrative Agent, and such successor Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Administrative Agent and the removed Administrative Agent shall be discharged from all of its duties as Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Borrower from time to time at the Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 9.12 shall constitute a waiver or release by the Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.

Replacement of Impaired Agent. If, at any time, the Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Parent Borrower to the Lenders, the Parent Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Administrative Agent, and such successor Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Administrative Agent and the removed Administrative Agent shall be discharged from all of its duties as Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Parent Borrower from time to time at the Parent Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 9.12 shall constitute a waiver or release by the Parent Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.

Replacement of Impaired Agent. If, at any time, during a Xxxxx Fargo Unavailability Period, the Backup Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Parent Borrower to the Lenders, the Parent Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Backup Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Backup Administrative Agent, and such successor Backup Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Backup Administrative Agent and the removed Backup Administrative Agent shall be discharged from all of its duties as Backup Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Parent Borrower from time to time at the Parent Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 shall constitute a waiver or release by the Parent Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.

Replacement of Impaired Agent. If, at any time, during a Wxxxx Fargo Unavailability Period, the Backup Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Borrower to the Lenders, the Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Backup Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Backup Administrative Agent, and such successor Backup Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Backup Administrative Agent and the removed Backup Administrative Agent shall be discharged from all of its duties as Backup Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Borrower from time to time at the Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 shall constitute a waiver or release by the Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.

Replacement of Impaired Agent. If, at any time, theduring a Wxxxx Fargo Unavailability Period, the Backup Administrative Agent becomes a Defaulting Lender, each Lender hereby agrees that, upon written notice from the Parent Borrower to the Lenders, the Parent Borrower shall have the right, upon written notice to the Lenders, to appoint as a successor Backup Administrative Agent any Lender that has an office in the United States and that agrees, in its sole discretion at such time, to become the Backup Administrative Agent, and such successor Backup Administrative Agent shall be entitled to all of the rights, powers, privileges and duties of the Backup Administrative Agent and the removed Backup Administrative Agent shall be discharged from all of its duties as Backup Administrative Agent hereunder and under the other Credit Documents. The Administrative Agent hereby agrees to provide to the Parent Borrower from time to time at the Parent Borrower’s request a list (which may be in electronic form) setting out the names of the Lenders as of the date of such request, their respective Commitments, and the information on record with the Administrative Agent for delivering notices to the Lenders in accordance with Section 10.4. Nothing in this Section 9.11 9.129.11 shall constitute a waiver or release by the Parent Borrower of any claims it may have hereunder or under the other Credit Documents arising from any Administrative Agent becoming a Defaulting Lender.