Common use of Replacement of Lender Clause in Contracts

Replacement of Lender. If any Borrower receives a notice pursuant to subsections 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower may require the Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to subsection 10.2B(i); and (iii) all of the requirements for such assignment contained in subsection 10.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 3 contracts

Samples: Secured Credit Agreement (Oi Levis Park STS Inc), Secured Credit Agreement (Owens Illinois Inc /De/), Secured Credit Agreement (Owens Illinois Group Inc)

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Replacement of Lender. If any a Borrower receives a notice pursuant to subsections 2.7A, 2.7B subsection 2.6B or 2.7C2.6C, so long as no Event of Default shall have occurred and be continuing and such the applicable Borrower has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such the applicable Borrower may require the Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B; provided PROVIDED that, prior to or concurrently with such replacement (i) the applicable Borrower has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i); and (iii) all of the requirements for such assignment contained in subsection 10.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 2 contracts

Samples: Quarterly Report, Secured Credit Agreement (Owens Illinois Inc /De/)

Replacement of Lender. If any Borrower Company receives a notice of amounts due pursuant to subsections subsection 2.7A, subsection 2.7B or 2.7Csubsection 2.7C from a Lender or a Lender becomes an Affected Lender or a Non-Consenting Lender (any such Lender, a “Subject Lender”), so long as no Event of Default shall have occurred and be continuing and such Borrower Company has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement purchase at par the Subject Lender’s Loans and to assume all other obligations of the Subject Lender hereunder, upon written notice to be replacedthe Subject Lender and Administrative Agent, such Borrower Company may require the Subject Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations Loans to such other Lender or Eligible Assignee, at par, Assignee pursuant to and in accordance with the provisions of subsection 10.2B9.1B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower Company has paid or caused to be paid to the Lender giving such notice all principal, interest, fees amounts under subsection 2.6D and other amounts due and owing to such Lender hereunder subsection 2.7 (if applicable) through such date of replacement (including any amounts payable under subsection 2.6E)replacement, (ii) Company or the applicable Borrower assignee has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i); 9.1B(iv) and (iii) all of the requirements for such assignment contained in subsection 10.2B9.1B, including, without limitation, the consent of Agents (if required) and the receipt by Administrative Agent of an executed Assignment and Acceptance Agreement and other supporting documents, have been fulfilled.

Appears in 2 contracts

Samples: Credit Agreement (Decrane Aircraft Holdings Inc), Credit Agreement (Decrane Holdings Co)

Replacement of Lender. If any Borrower receives a notice pursuant to subsections 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower may require the Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B9.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower Company has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i9.2B(i); , and (iii) all of the requirements for such assignment contained in subsection 10.2B9.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

Replacement of Lender. If any Borrower Company receives a notice pursuant to subsections 2.7A, 2.7B subsection 2.6B or 2.7C2.6C, so long as no Event of Default shall have occurred and be continuing and such Borrower Company has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower Company may require the Lender giving such notice to assign all of its Loans, its Commitments Revolving Loan Commitment and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B9.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower Company has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower Company has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i9.2B(i); , and (iii) all of the requirements for such assignment contained in subsection 10.2B9.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

Replacement of Lender. If any Borrower Company receives a notice pursuant to subsections 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower Company has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower Company may require the Lender giving such notice to assign all of its Loans, its Commitments Revolving Loan Commitment and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B9.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower Company has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower Company has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i9.2B(i); , and (iii) all of the requirements for such assignment contained in subsection 10.2B9.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

Replacement of Lender. If any Borrower Company receives a notice pursuant to subsections 2.7A, 2.7B subsection 2.6B or 2.7C2.6C, so long as no Event of Default shall have occurred and be continuing and such Borrower Company has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower Company may require the Lender giving such notice to assign all of its Loans, its Commitments Revolving Loan Commitment and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B9.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower Company has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower Company has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i9.2B(i); , and (iii) all of the requirements for such assignment contained in subsection 10.2B9.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

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Replacement of Lender. If any Borrower receives a notice pursuant to subsections 2.6B, 2.6C, 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower may require the Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E2.6D(iii)), (ii) the applicable Borrower has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to subsection 10.2B(i); and (iii) all of the requirements for such assignment contained in subsection 10.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Group Inc)

Replacement of Lender. If any Borrower Company receives a notice pursuant to subsections 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower Company has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower Company may require the Lender giving such notice to assign all of its Loans, its Commitments Revolving Loan Commitment and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B9.2B; provided that, prior to or concurrently with such replacement (i) the applicable Borrower Company has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower Company has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to by subsection 10.2B(i9.2B(i); , and (iii) all of the requirements for such assignment contained in subsection 10.2B9.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

Replacement of Lender. If any Borrower receives a notice pursuant to subsections 2.7A, 2.7B or 2.7C, so long as no Event of Default shall have occurred and be continuing and such Borrower has obtained a commitment from another Lender or an Eligible Assignee to become a Lender for all purposes under this Agreement and to assume all obligations of the Lender to be replaced, such Borrower may require the Lender giving such notice to assign all of its Loans, its Commitments and its other Obligations to such other Lender or Eligible Assignee, at par, pursuant to and in accordance with the provisions of subsection 10.2B; provided PROVIDED that, prior to or concurrently with such replacement (i) the applicable Borrower has paid or caused to be paid to the Lender giving such notice all principal, interest, fees and other amounts due and owing to such Lender hereunder through such date of replacement (including any amounts payable under subsection 2.6E), (ii) the applicable Borrower has paid to Administrative Agent the processing and recordation fee required to be paid pursuant to subsection 10.2B(i); and (iii) all of the requirements for such assignment contained in subsection 10.2B, including, without limitation, the receipt by Administrative Agent of an executed Assignment and Acceptance and other supporting documents, have been fulfilled.

Appears in 1 contract

Samples: Secured Credit Agreement (Owens Illinois Inc /De/)

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