Resignation of an Obligor. (other than the Company and, following a Permitted Reorganisation, AMEC plc)
(a) The Company may request that an Obligor (other than the Company and, following a Permitted Reorganisation, AMEC plc) ceases to be an Obligor by giving to the Facility Agent a duly completed Resignation Request.
(b) Upon the occurrence of the Trigger Event, the Company will be deemed to have given the Facility Agent a duly completed Resignation Request in respect of each Guarantor (other than the Company and, following a Permitted Reorganisation, AMEC plc). If a Resignation Request is not accepted by the Facility Agent under Subparagraphs (i) and/or (iv) of paragraph (c) below, the Company will be deemed to have given the Facility Agent a duly completed Resignation Request in respect of each Guarantor (other than the Company and, following a Permitted Reorganisation, AMEC plc) at the time Subparagraphs (i) and (iv) of paragraph (c) below cease to apply.
(c) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if:
(i) in the case of a Guarantor and prior to the occurrence of the Trigger Event, the Company has provided evidence and computations in form and substance satisfactory to the Facility Agent that the covenant in Subclause 21.5 (Guarantor Cover) will be satisfied following the acceptance of the Resignation Request;
(ii) it is not aware that a Default is outstanding or would result from the acceptance of the Resignation Request;
(iii) (in the case of a Borrower) no amount owed by that Obligor in its capacity as Borrower under this Agreement is still outstanding; and
(iv) (in the case of a Guarantor) no amount owed by that Obligor in its capacity as Guarantor under this Agreement is still outstanding.
(d) The Obligor will cease to be a Borrower and/or a Guarantor, as appropriate, when the Facility Agent gives the notification referred to in paragraph (c) above.
(e) An Obligor (other than the Company or, following a Permitted Reorganisation, AMEC plc) may also cease to be an Obligor in any other manner approved by the Majority Lenders.
Resignation of an Obligor. (other than the Company)
(a) The Company may request that an Obligor (other than the Company) ceases to be an Obligor by giving to the Facility Agent a duly completed Resignation Request.
(b) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if:
(i) in the case of a Guarantor, all Lenders have consented to the Resignation Request;
(ii) it is not aware that a Default is outstanding or would result from the acceptance of the Resignation Request; and
(iii) no amount owed by that Obligor under this Agreement is still outstanding.
(c) The Obligor will cease to be a Borrower and/or a Guarantor, as appropriate, when the Facility Agent gives the notification referred to in paragraph (b) above.
(d) An Obligor (other than the Company) may also cease to be an Obligor in any other manner approved by the Majority Lenders.
Resignation of an Obligor. (a) The Parent may request that a Guarantor (other than the Parent or GTECH Corporation) or a Borrower (other than the Parent or GTECH Corporation) ceases to be a Guarantor or, as the case may be, Borrower by delivering to the Agent a Resignation Letter if:
(i) that Guarantor (other than a Guarantor which is also an Original Borrower) or a Borrower is being disposed of by way of a Third Party Disposal and the Parent has confirmed this is the case;
(ii) following the completion of any Permitted Transaction, any Guarantor (other than a Guarantor which is also an Original Borrower) ceases to be a Material Subsidiary; or
(iii) all the Lenders have consented to the resignation of that Guarantor.
(b) The Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if:
(i) the Parent has confirmed that no Default is continuing or would result from the acceptance of the Resignation Letter; and
(ii) no payment is due from the Guarantor under Clause 24.1 (Guarantee and indemnity) or from a Borrower under Clause 11.3 (Repayment) or Clause 15.3 (Payment of interest).
(c) The resignation of that Guarantor shall not be effective until the date of the relevant Third Party Disposal at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents as a Guarantor.
Resignation of an Obligor. (other than the Company)
(a) In this Subclause, Resignation Request means a letter in the form of Schedule 7 (Form of Resignation Request), with such amendments as the Facility Agent may approve or reasonably require.
(b) The Company may request that an Obligor (other than the Company) ceases to be an Obligor by giving to the Facility Agent a duly completed Resignation Request.
(c) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if:
(i) no Default is outstanding or would result from the acceptance of the Resignation Request and the Company confirms this; and
(ii) no amount owed by that Obligor under this Agreement is still outstanding.
(d) The Obligor will cease to be a Borrower and/or a Guarantor, as appropriate, when the Facility Agent gives the notification referred to in paragraph (c) above.
Resignation of an Obligor. (a) In this Clause 28.3, “Third Party Disposal” means the disposal of an Obligor to a person which is not a member of the Group.
Resignation of an Obligor. In this Clause 27.3 and Clause 27.6 (Release of Security on Disposal), “
Resignation of an Obligor. (OTHER THAN THE COMPANY OR CDFCUK)
(a) In this Subclause, "RESIGNATION REQUEST" means a letter in the form of Schedule 9 (Form of Resignation Request), with such amendments as the Facility Agent may approve or reasonably require.
(b) CDFCUK may request that an Obligor (other than the Company or CDFCUK) ceases to be an Obligor by giving to the Facility Agent a duly completed Resignation Request.
(c) The Facility Agent must accept a Resignation Request and notify CDFCUK and the Lenders of its acceptance if:
(i) in the case of a Guarantor, the Majority Lenders have consented to the Resignation Request;
(ii) it is not aware that a Default is outstanding or would result from the acceptance of the Resignation Request; and
(iii) no amount owed by that Obligor under this Agreement is still outstanding.
(d) The Obligor will cease to be a Borrower and/or a Guarantor, as appropriate, when the Facility Agent gives the notification referred to in paragraph (c) above.
(e) An Obligor (other than the Company or CDFCUK) may also cease to be an Obligor in any other manner approved by the Majority Lenders.
Resignation of an Obligor. If at any time an Obligor (other than the Company) is under no actual or contingent obligation under or pursuant to any Finance Document, the Company may request that such Obligor shall cease to be an Obligor by delivering to the Agent a Resignation Notice. Such notice shall be accepted by the Agent on the date on which it notifies the Company that (i) the Instructing Group has approved the resignation of such company as an Obligor (such approval not to be unreasonably withheld or delayed) and (ii) it is satisfied that such Obligor is under no actual or contingent obligation under or pursuant to any Finance Document. Thereupon such Obligor shall immediately cease to be an Obligor and shall have no further rights, benefits or obligations hereunder save for those which arose prior to such date.
Resignation of an Obligor. (a) The Company may request that an Obligor (other than the Company) ceases to be an Obligor by delivering to the Agent a Resignation Letter.
(b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if:
(i) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and
(ii) no payment is due from, and there are no outstanding Loans which are drawn by, the relevant Obligor, whereupon that company shall cease to be an Obligor and shall have no further rights or obligations under the Finance Documents.
Resignation of an Obligor. (a) In this Clause 28.3, "
