Common use of Replacement of L/C Issuer Clause in Contracts

Replacement of L/C Issuer. An L/C Issuer may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 10 contracts

Samples: Loan Agreement (Worldpay, Inc.), Loan Agreement (Vantiv, Inc.), Loan Agreement (Vantiv, Inc.)

AutoNDA by SimpleDocs

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) at any time by written agreement among the Borrower, the Administrative Agent, the replaced L/C Issuer Required Revolving Credit Lenders, and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 7 contracts

Samples: Credit Agreement (Frontier Communications Parent, Inc.), Credit Agreement (Frontier Communications Parent, Inc.), Credit Agreement (Frontier Communications Parent, Inc.)

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Lender (or an Affiliate of a Lender) at any time by written agreement among the BorrowerBorrower Representative, the Administrative Agent, the replaced L/C Issuer Requisite Lenders, and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower Borrowers shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 6 contracts

Samples: Revolving Loan Credit Agreement (XPO, Inc.), Revolving Loan Credit Agreement (XPO Logistics, Inc.), Assignment Agreement (XPO Logistics, Inc.)

Replacement of L/C Issuer. An The L/C Issuer may be replaced with another Lender (or an Affiliate of a Lender) at any time by written agreement among the BorrowerBorrower Representative, the Administrative Agent, the replaced L/C Issuer Requisite Lenders, and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an the L/C Issuer. At the time any such replacement shall become effective, the Borrower Borrowers shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 4 contracts

Samples: Credit Agreement (XPO Logistics, Inc.), Credit Agreement (XPO Logistics, Inc.), Credit Agreement (XPO Logistics, Inc.)

Replacement of L/C Issuer. An The L/C Issuer may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, replacement (i) the successor L/C Issuer shall have all the rights and obligations of the replaced L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor and all previous L/C IssuersIssuer s, as the context shall require. After the replacement of an a L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such a L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Lantheus Holdings, Inc.), Credit Agreement (Lantheus Medical Imaging, Inc.), Credit Agreement (Lantheus MI Intermediate, Inc.)

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) at any time by written agreement among the BorrowerCompany, the Revolving Facility Administrative Agent, the replaced L/C Issuer Required Revolving Credit Lenders, and the successor L/C Issuer. The Revolving Facility Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower Company shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Shoals Technologies Group, Inc.), Credit Agreement (Shoals Technologies Group, Inc.)

Replacement of L/C Issuer. An The L/C Issuer may be replaced at any time by written agreement among the BorrowerCompany, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuerletter of credit issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an the L/C Issuer. At the time any such replacement shall become effective, the Borrower Company shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(m). From and after the effective date of any such replacement, (i) the successor L/C Issuer letter of credit issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter by it thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor letter of credit issuer or to any previous the L/C Issuer, or to such successor and all previous L/C Issuers, as the context shall require. After the replacement of an the L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such the L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Meet Group, Inc.)

Replacement of L/C Issuer. An Any L/C Issuer may be replaced at any time by written agreement among between the Borrower, the Administrative Agent, the replaced L/C Issuer and the and, if applicable, any successor L/C Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(i). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor or to any previous L/C Issuer, or to such successor and all previous L/C IssuersIssuer, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Cousins Properties Inc)

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) at any time by written agreement among the Borrower, the Revolving Facility Administrative Agent, the replaced L/C Issuer Required Revolving Credit Lenders, and the successor L/C Issuer. The Revolving Facility Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Shoals Technologies Group, Inc.)

Replacement of L/C Issuer. An L/C Issuer may be replaced at any time by written agreement among the between Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/L/ C Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(i). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor or to any previous L/C Issuer, or to such successor and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Armada Hoffler Properties, Inc.)

AutoNDA by SimpleDocs

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) at any time by written agreement among the BorrowerCompany, the Revolving Facility Administrative Agent, the replaced L/C Issuer Required Revolving Credit Lenders, and the successor L/C Issuer. The Revolving Facility Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower Company shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.. Section 2.04 [Reserved]. Section 2.05

Appears in 1 contract

Samples: Credit Agreement (Shoals Technologies Group, Inc.)

Replacement of L/C Issuer. An L/C Issuer may be replaced at any time by written agreement among the Borrowerbetween Bxxxxxxx, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(j). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor or to any previous L/C Issuer, or to such successor and all previous L/C IssuersIssuer, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Landsea Homes Corp)

Replacement of L/C Issuer. An L/C Issuer may be replaced at any time by written agreement among the Borrowerbetween Xxxxxxxx, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(i). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor or to any previous L/C Issuer, or to such successor and all previous L/C Issuers, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Armada Hoffler Properties, Inc.)

Replacement of L/C Issuer. An L/C Issuer may be replaced at any time by written agreement among the between Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b2.03(j). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to include such successor or to any previous L/C Issuer, or to such successor and all previous L/C IssuersIssuer, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Rexford Industrial Realty, Inc.)

Replacement of L/C Issuer. An Any L/C Issuer may be replaced with another Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) at any time by written agreement among the Borrower, the Administrative Agent, the replaced L/C Issuer Required Revolving Credit Lenders, and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an such L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.13(b)Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of the replaced applicable L/C Issuer under this Agreement with respect to Letters of Credit to be issued thereafter thereafter, and (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such successor L/C Issuer and all previous L/C Issuers, as the context shall #94164975v6 Exhibit 10.14 require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall #94164975v6 Exhibit 10.14 continue to have all the rights and obligations of such an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Array Technologies, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.