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), Assignment Agreement (Wilsons the Leather Experts Inc), 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.15(a), 10.3 and 10.61.16(a) or 1.16(b), the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. 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 LenderLender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (Zomax Optical Media 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.12(a), 10.3 and 10.61.12(b), the 1.13(a) or 1.13(b), Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. 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 Advances, its interest in the Letter of Credit Obligations and Commitments to such Replacement LenderLender for an amount equal to the principal balance of the Revolving Loan held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (American Physician Partners 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.15(a), 10.3 and 10.61.16(a) or 1.16(b), the Borrower may, at its option, notify the Administrative Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. So long as no Default or Event of Default shall have occurred and be continuing, Borrower, with the consent of Administrative Agent, which shall not be unreasonably withheld, 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 Administrative 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 LenderLender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (Playcore 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 10.1Section 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 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 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)

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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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.13(a), 10.3 and 10.61.14(a) or 1.14(b), the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. 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 LenderLender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (United Shipping & Technology 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Sections 1.15(a), 10.3 and 10.61.16(a) or 1.16(b), the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. So long as no Default or Event of Default has occurred and is 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 LenderLender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (510152 N B LTD)

Replacement of Lender in Respect of Increased Costs. Within forty-five fifteen (4515) days after receipt by the Borrower Representative of written notice and demand from any Lender (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.15(a), 10.3 and 10.61.16(a) or 1.16(b), the Borrower Representative may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. So long as no Default or Event of Default shall have occurred and be continuing, Borrower Representative, with the consent of Agent, may obtain, at the Borrower's Borrowers' 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 Borrower obtains If Borrowers obtain a Replacement Lender within ninety (90) days following notice of its their intention to do so, the Affected Lender shall must sell and assign its Loans and Commitments to such Replacement Lender, provided that Lender for an amount equal to the Borrower has reimbursed such principal balance of all Loans held by the Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement and all accrued interest and Fees with respect thereto through the date of such sale and assignment.sale, provided that Borrowers shall have

Appears in 1 contract

Samples: Credit Agreement (Home Products International 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.16(a), 10.3 and 10.61.17(a) or 1.17(b), the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. 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 LenderLender for an amount equal to the principal balance of all Loans held by the Affected Lender and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrower has shall have 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 (Zomax Optical Media 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 (an "Affected Lender") for payment of additional amounts or increased costs as provided in subsections 10.1Section 1.17(a), 10.3 and 10.61.18(a) or 1.18(b), the Borrower may, at its option, notify the Agent and such Affected Lender of the Borrower's its intention to replace the Affected Lender. 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, provided that the Borrower has reimbursed such Affected Lender for its increased costs for which it is entitled an amount equal to reimbursement under this Agreement through the date of such sale and assignment.the

Appears in 1 contract

Samples: Credit Agreement (Baldwin Piano & Organ Co /De/)

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