Resignation after Assignment Clause Samples
Resignation after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to §15.1, Bank of America may, (i) upon thirty (30) days’ notice to the Borrowers and the Lenders, resign as Issuing Bank and/or (ii) upon thirty (30) days’ notice to the Borrowers, resign as Swing Line Lender. In the event of any such resignation as Issuing Bank or Swing Line Lender, the Borrowers shall be entitled to appoint from among the Lenders a successor Issuing Bank or Swing Line Lender hereunder; provided, however, that no failure by the Borrowers to appoint any such successor shall affect the resignation of Bank of America as Issuing Bank or Swing Line Lender, as the case may be. If Bank of America resigns as Issuing Bank, it shall retain all the rights and obligations of the Issuing Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Issuing Bank and all Unpaid Reimbursement Obligations plus the Maximum Drawing Amount with respect thereto (including the right to require the Lenders to make Base Rate Loans or make payments with respect to Reimbursement Obligations). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to §2.9.
Resignation after Assignment. Notwithstanding anything to the contrary contained herein, if at any time (1) Bank of America assigns all of its Domestic Revolving Commitments and Domestic Revolving Loans pursuant to subsection (b) above, Bank of America may upon 30 days’ notice to EMS and the Domestic Lenders, resign as Domestic L/C Issuer, and (2) Bank of America, acting through its Canada branch assigns all of its Canadian Revolving Commitments and Canadian Revolving Loans pursuant to subsection (b) above, Bank of America, acting through its Canada branch may upon 30 days’ notice to the Canadian Borrower and the Canadian Lenders, resign as Canadian L/C Issuer. In the event of any such resignation as Domestic L/C Issuer or Canadian L/C Issuer, the applicable Borrower shall be entitled to appoint from among the Lenders a successor Domestic L/C Issuer or Canadian L/C Issuer hereunder, as applicable; provided, however, that no failure by a Borrower to appoint any such successor shall affect the resignation of Bank of America or Bank of America, acting through its Canada branch, as applicable, as Domestic L/C Issuer or Canadian L/C Issuer. If Bank of America or Bank of America, acting through its Canada branch, as applicable, resigns as Domestic L/C Issuer or Canadian L/C Issuer, it shall retain all the rights, powers, privileges and duties of Domestic L/C Issuer or Canadian L/C Issuer, as applicable, hereunder with respect to all Domestic Letters of Credit or Canadian Letters of Credit outstanding as of the effective date of its resignation as Domestic L/C Issuer or Canadian L/C Issuer and all Domestic L/C Obligations or Canadian L/C Obligations, as applicable, with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to such Lender to effectively assume the obligations of such Lender with respect to such Letters of Credit.
Resignation after Assignment. 16.9. Accession 16.10. Optional Increase of Maximum Revolving Credit Ceiling
Resignation after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its U.S. Commitment and/or Canadian Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days' notice to the Company and the Lenders, resign as U.S. L/C Issuer and/or Canadian L/C Issuer, as applicable, and/or (ii) upon 30 days' notice to the Company, resign as U.S. Swing Line Lender and/or Canadian Swing Line Lender, as applicable. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Company shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Company to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of
Resignation after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Revolving Credit Dollar Commitment and Loans pursuant to Section 16.1 above, Bank of America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as Issuer and/or (ii) upon 30 days’ notice to the Borrower, resign as SwingLine Lender. In the event of any such resignation as Issuer or SwingLine Lender, the Borrower shall be entitled to appoint from among the Lenders a successor Issuer or SwingLine Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as Issuer or SwingLine Lender, as the case may be. If Bank of America resigns as Issuer, it shall retain all the rights, powers, privileges and duties of the Issuer hereunder with respect to all L/Cs outstanding as of the effective date of its resignation as Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Margin Loans or fund risk participations in Unreimbursed Amounts pursuant to