Common use of Resignation of an Additional Borrower Clause in Contracts

Resignation of an Additional Borrower. 22.3.1 The Parent may request that a Borrower (other than the Original Borrowers) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

Resignation of an Additional Borrower. 22.3.1 (a) The Parent may request that a Borrower (other than the Original Borrowers) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 (b) The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 (i) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 (ii) the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

Resignation of an Additional Borrower. 22.3.1 (a) The Parent may request that a Borrower (other than the Original BorrowersBorrower) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 (b) The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 (i) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 (ii) the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

Resignation of an Additional Borrower. 22.3.1 24.3.1 The Parent may request that a Borrower (other than the Original Borrowers) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 24.3.2 The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 24.3.2.1 no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 24.3.2.2 the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

Resignation of an Additional Borrower. 22.3.1 21.3.1 The Parent may request that a Borrower (other than the Original Borrowers) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 21.3.2 The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 (a) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 (b) the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

Resignation of an Additional Borrower. 22.3.1 The Parent may request that a Borrower (other than the Original Borrowers) ceases to be a Borrower by delivering to the Facility Agent a Resignation Letter. 22.3.2 The Facility Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 22.3.2.1 no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed to the Facility Agent that this is the case); and 22.3.2.2 the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.. Table of Contents