Common use of Replacement of Swing Line Lenders Clause in Contracts

Replacement of Swing Line Lenders. Any Swing Line Lender may be replaced at any time by written agreement among the Borrowers, the Administrative Agent, the replaced Swing Line Lender and the successor Swing Line Lender. The Administrative Agent shall notify the Banks of any such replacement of a Swing Line Lender. At the time any such replacement shall become effective, the Borrowers shall pay all unpaid interest accrued for the account of the replaced Swing Line Lender pursuant to Section 2.8(a). From and after the effective date of any such replacement, (x) the successor Swing Line Lender shall have all the rights and obligations of the replaced Swing Line Lender under this Agreement with respect to Swing Line Advances made thereafter and (y) references herein to the term “Swing Line Lender” shall be deemed to refer to such successor or to any previous Swing Line Lender, or to such successor and all previous Swing Line Lenders, as the context shall require. After the replacement of a Swing Line Lender hereunder, the replaced Swing Line Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swing Line Lender under this Agreement with respect to Swing Line Advances made by it prior to its replacement, but shall not be required to make additional Swing Line Advances.

Appears in 9 contracts

Samples: Credit Agreement (BlackRock Series Fund II, Inc.), Credit Agreement (BlackRock Series Fund II, Inc.), Credit Agreement (BlackRock Series Fund II, Inc.)

AutoNDA by SimpleDocs

Replacement of Swing Line Lenders. (i) Any Domestic Swing Line Lender may be replaced at any time by written agreement among the BorrowersXxxxx, the Administrative Agent, the replaced Domestic Swing Line Lender Lender, and the a successor Domestic Swing Line Lender. The Administrative Agent shall notify the Banks Domestic Lenders of any such replacement of a Domestic Swing Line Lender. At the time any such replacement shall become effective, the Borrowers Xxxxx shall pay all unpaid interest accrued for the account of the replaced Domestic Swing Line Lender pursuant to Section 2.8(a)2.08. From and after the effective date of any such replacement, (xA) the successor Domestic Swing Line Lender shall have all the rights and obligations of the replaced Domestic Swing Line Lender under this Agreement with respect to Domestic Swing Line Advances Loans made thereafter thereafter, and (yB) references herein to the term “Domestic Swing Line Lender” shall be deemed to refer to such successor or to any previous Domestic Swing Line Lender, or to such successor and all previous Domestic Swing Line Lenders, as the context shall require. After the replacement of a Domestic Swing Line Lender hereunder, the replaced Domestic Swing Line Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Domestic Swing Line Lender under this Agreement with respect to Domestic Swing Line Advances Loans made by it prior to its replacement, but shall not be required to make additional Domestic Swing Line AdvancesLoans. Schedule 2.04 shall be deemed to be automatically updated to reflect the Domestic Swing Line Commitment of any Person that becomes a Domestic Swing Line Lender after the Closing Date pursuant to this Section 2.04(g)(i).

Appears in 1 contract

Samples: Global Revolving Credit Agreement (Ryder System Inc)

Replacement of Swing Line Lenders. (i) Any Domestic Swing Line Lender may be replaced at any time by written agreement among the BorrowersRyder, the Administrative Agent, the replaced Domestic Swing Line Lender Lender, and the a successor Domestic Swing Line Lender. The Administrative Agent shall notify the Banks Domestic Lenders of any such replacement of a Domestic Swing Line Lender. At the time any such replacement shall become effective, the Borrowers Ryder shall pay all unpaid interest accrued for the account of the replaced Domestic Swing Line Lender pursuant to Section 2.8(a)2.08. From and after the effective date of any such replacement, (xA) the successor Domestic Swing Line Lender shall have all the rights and obligations of the replaced Domestic Swing Line Lender under this Agreement with respect to Domestic Swing Line Advances Loans made thereafter thereafter, and (yB) references herein to the term “Domestic Swing Line Lender” shall be deemed to refer to such successor or to any previous Domestic Swing Line Lender, or to such successor and all previous Domestic Swing Line Lenders, as the context shall require. After the replacement of a Domestic Swing Line Lender hereunder, the replaced Domestic Swing Line Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Domestic Swing Line Lender under this Agreement with respect to Domestic Swing Line Advances Loans made by it prior to its replacement, but shall not be required to make additional Domestic Swing Line AdvancesLoans. Schedule 2.04 shall be deemed to be automatically updated to reflect the Domestic Swing Line Commitment of any Person that becomes a Domestic Swing Line Lender after the Closing Date pursuant to this Section 2.04(g)(i).

Appears in 1 contract

Samples: Global Revolving Credit Agreement (Ryder System Inc)

AutoNDA by SimpleDocs

Replacement of Swing Line Lenders. Any Swing Line Lender may be replaced at any time by written agreement among the Borrowers, the Administrative Agent, the replaced Swing Line Lender and the successor Swing Line Lender. The Administrative Agent shall notify the Banks of any such replacement of a Swing Line Lender. At the time any such replacement shall become effective, the Borrowers shall pay all unpaid interest accrued for the account of the replaced Swing Line Lender pursuant to Section 2.8(a). From and after the effective date of any such replacement, (x) the successor Swing Line Lender shall have all the rights and obligations of the replaced Swing Line Lender under this Agreement with respect to Swing Line Advances made thereafter and (y) references herein to the term "Swing Line Lender" shall be deemed to refer to such successor or to any previous Swing Line Lender, or to such successor and all previous Swing Line Lenders, as the context shall require. After the replacement of a Swing Line Lender hereunder, the replaced Swing Line Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swing Line Lender under this Agreement with respect to Swing Line ACTIVE 255598135 Advances made by it prior to its replacement, but shall not be required to make additional Swing Line Advances.

Appears in 1 contract

Samples: Credit Agreement (BlackRock Variable Series Funds II, Inc.)

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