Common use of Replacement of Impaired Agent Clause in Contracts

Replacement of Impaired Agent. (a) If the Facility Agent is an Impaired Agent, after consultation with the Company, the Majority Lenders may, by giving 30 days’ notice (or any shorter notice the Majority Lenders may agree) replace the Facility Agent by appointing a successor Facility Agent.

Replacement of Impaired Agent. (a) If the Facility Agent is an Impaired Agent, after consultation with the Company, the Majority Lenders may, by giving 30 days’ days notice (or any shorter notice the Majority Lenders may agree) replace the Facility Agent by appointing a successor Facility Agent.