Replacement of Servicer. Following the occurrence of a Servicer Termination Event, the Administrative Agent, at the direction of the Required Buyers, may replace the Servicer with itself or any agent for the Administrative Agent with respect to any and all Purchased Receivables. The Seller shall be responsible for all reasonable costs and expenses incurred in connection with such replacement and shall promptly reimburse the Administrative Agent with respect to same.
Appears in 4 contracts
Samples: First Amendment to Fifth Amended and Restated Credit and Security Agreement (Smithfield Foods Inc), Master Receivables Purchase Agreement (Smithfield Foods Inc), Master Receivables Purchase Agreement (Smithfield Foods Inc)
