Common use of Replacement of Lender in Respect of Increased Costs Clause in Contracts

Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 3 contracts

Samples: Credit Agreement (True Temper Sports Inc), Credit Agreement (Packaged Ice Inc), Credit Agreement (Life Time Fitness Inc)

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Replacement of Lender in Respect of Increased Costs. Within forty-five fifteen (4515) days after receipt by the Borrower of written notice and demand from any Lender or a participant that has purchased a participation from such Lender (an "Affected Lender") for payment of taxes, additional amounts or increased costs as provided in subsections 10.1Section 1.15 or Section 1.16(a) or (b), 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender as follows: So long as no Default or Event of Default shall have occurred and be continuing, Borrower, with the consent of Agent, may obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such the Affected Lender, which Replacement Lender shall must be reasonably satisfactory to the Agent. In the event the If Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall must sell and assign its Loans and Revolving Loan Commitments to such Replacement Lender, Lender provided that the Borrower has reimbursed such Affected Lender for its the additional amounts or increased costs for which that it is entitled to reimbursement receive under this Agreement through the date of such sale and assignment.

Appears in 3 contracts

Samples: Credit Agreement (Wilsons the Leather Experts Inc), Credit Agreement (Wilsons the Leather Experts Inc), Credit Agreement (Wilsons the Leather Experts Inc)

Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Administrative Agent and the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 2 contracts

Samples: Credit Agreement (Esquire Communications LTD), Credit Agreement (Esquire Communications LTD)

Replacement of Lender in Respect of Increased Costs. Within forty-five fifteen (4515) days after receipt by the Borrower of written notice and demand from any Lender or a participant that has purchased a participation from such Lender (an "Affected Lender") for payment of taxes, additional amounts or increased costs as provided in subsections 10.1Section 1.15 or Section 1.16(a) or (b), 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender as follows: So long as no Default or Event of Default shall have occurred and be continuing, Borrower, with the consent of Agent, may obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such the Affected Lender, which Replacement Lender shall must be reasonably satisfactory to the Agent. In the event the If Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall must sell and assign its Loans and Commitments to such Replacement Lender, Lender provided that the Borrower has reimbursed such Affected Lender for its the additional amounts or increased costs for which that it is entitled to reimbursement receive under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Replacement of Lender in Respect of Increased Costs. Within forty-five fifteen (4515) days after receipt by the Borrower of written notice and demand from any Lender or a participant that has purchased a participation from such Lender (an "Affected LenderAFFECTED LENDER") for payment of taxes, additional amounts or increased costs as provided in subsections 10.1SECTION 1.15 or SECTION 1.16(A) or (B), 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender as follows: So long as no Default or Event of Default shall have occurred and be continuing, Borrower, with the consent of Agent, may obtain, at the Borrower's expense, a replacement Lender ("Replacement LenderREPLACEMENT LENDER") for such the Affected Lender, which Replacement Lender shall must be reasonably satisfactory to the Agent. In the event the If Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall must sell and assign its Loans and Revolving Loan Commitments to such Replacement Lender, Lender provided that the Borrower has reimbursed such Affected Lender for its the additional amounts or increased costs for which that it is entitled to reimbursement receive under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Replacement of Lender in Respect of Increased Costs. Within --------------------------------------------------- forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided -------- that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Shade Acquisition Inc)

Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected LenderAFFECTED LENDER") for payment of additional costs as provided in subsections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement REPLACEMENT Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided PROVIDED that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

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Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections 10.1Section 13.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's ’s intention to obtain, at the Borrower's ’s expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Adam Inc)

Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections Sections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender; PROVIDED, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (PrimeWood, Inc.)

Replacement of Lender in Respect of Increased Costs. Within forty-five (45) days after receipt by the Borrower of written notice and demand from any Lender (an "Affected Lender") for payment of additional costs as provided in subsections Sections 10.1, 10.3 and 10.6, the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's intention to obtain, at the Borrower's expense, a replacement Lender ("Replacement Lender") for such Affected Lender, which Replacement Lender shall be reasonably satisfactory to the Agent. In the event the Borrower obtains a Replacement Lender within ninety (90) days following notice of its intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment.

Appears in 1 contract

Samples: Credit Agreement (Brickman Group LTD)

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