Resignation and Removal of the Swingline Lender. The Swingline Xxxxxx may resign as the Swingline Lender hereunder upon 30 days prior written notice to the Administrative Agent, the Lenders, the Borrower and DBRS. The Swingline Lender may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Swingline Lender (provided that no consent will be required if the replaced Swingline Lender has no Swingline Loans outstanding) and the successor Swingline Lender; provided that such successor Swingline Lender is an Approved Lender. The Administrative Agent shall notify the Lenders of any such replacement of the Swingline Lender. At the time any such replacement or resignation shall become effective, (i) the Borrower shall prepay any outstanding Swingline Loans made by the resigning or removed Swingline Lender, (ii) upon such prepayment, the resigning or removed Swingline Lender shall surrender any Note held by it evidencing its Swingline Loans to the successor Administrative Agent for cancellation and (iii) the Borrower shall, if so requested by the successor Swingline Lender, promptly prepare, execute and deliver to such Lender a Note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and otherwise appropriately completed. From and after the effective date of any such replacement or resignation, (x) any successor Swingline Lender shall have all the rights and obligations of the Swingline Lender under this Agreement with respect to Swingline Loans made thereafter and (y) references herein to the term “Swingline Lender” shall be deemed to refer to such successor or to any previous Swingline Lender, or to such successor and all previous Swingline Lenders, as the context shall require.
