Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 18 contracts
Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (American Vanguard Corp)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 10 contracts
Samples: Loan and Security Agreement (Arctic Cat Inc), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Northwest Pipe Co)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon 10 days written notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights the benefits of Sections 2.3, 12.6 and other obligations of an Issuing Bank hereunder relating 14.2 with respect to any Letter Letters of Credit issued by it prior to such dateor other actions taken while Issuing Bank. Agent shall promptly appoint a replacement Issuing Bank, whichBank and, as long as no Default or Event of Default exists, such replacement shall be reasonably acceptable to Borrowers.
Appears in 7 contracts
Samples: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Administrative Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Administrative Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 6 contracts
Samples: Loan and Security Agreement (Par Pacific Holdings, Inc.), Loan Agreement (Key Energy Services Inc), Loan Agreement (Key Energy Services Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon 15 Business Days prior written notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default existshas occurred and is continuing, shall be reasonably acceptable to Borrowers.
Appears in 4 contracts
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowersthe Borrower Agent.
Appears in 4 contracts
Samples: Guaranty and Security Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc), Guaranty and Security Agreement (Guess Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and BorrowersBorrower. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder hereunder, including under Section 2.3, 12.6 and 14.2, relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower.
Appears in 4 contracts
Samples: Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and BorrowersColonial. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights the benefits of Sections 2.3, 12.6 and other obligations of an Issuing Bank hereunder relating 14.2 with respect to any Letter Letters of Credit issued by it prior to such dateor other actions taken while Issuing Bank. Agent shall promptly appoint a replacement Issuing Bank, whichBank and, as long as no Default or Event of Default exists, such replacement shall be reasonably acceptable to BorrowersColonial.
Appears in 3 contracts
Samples: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder hereunder, including under Sections 2.3, 12.6 and 14.2, relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Imperial Sugar Co /New/), Loan and Security Agreement (Frozen Food Express Industries Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to US Borrowers.
Appears in 2 contracts
Samples: Loan, Guaranty and Security Agreement (Parametric Sound Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights the benefits of Sections 2.3, 12.6 and other obligations of an Issuing Bank hereunder relating 14.2 with respect to any Letter Letters of Credit issued by it prior to such dateor other actions taken while Issuing Bank. Agent shall promptly appoint a replacement Issuing Bank, whichBank and, as long as no Default or Event of Default exists, such replacement shall be reasonably acceptable to Borrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and BorrowersBorrower. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder hereunder, including under Section 2.3, 12.6 and 14.2, relating to any Letter of Credit issued by it prior to such date. Agent shall shall, subject to the consent of such replacement Issuing Bank, promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp)
Resignation of Issuing Bank. Any Issuing Bank may resign at any time upon notice to Agent and Borrowersthe applicable Borrower Agent. On and after From the effective date of such resignation, such Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowersthe applicable Borrower Agent.
Appears in 2 contracts
Samples: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.), Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall otherwise continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 2 contracts
Samples: Loan, Security and Guarantee Agreement (National CineMedia, Inc.), Loan, Security and Guarantee Agreement (Applied Optoelectronics, Inc.)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, which (i) accepts such appointment and (ii) as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (U.S. Concrete, Inc.), Loan and Security Agreement (Us Concrete Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder hereunder, including under Sections 2.2, 12.6 and 14.2, relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (Installed Building Products, Inc.), Loan and Security Agreement (Akorn Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and BorrowersBorrower. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower.
Appears in 1 contract
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend extend, or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Casella Waste Systems Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower Agent. 2.3.5.
Appears in 1 contract
Samples: Credit and Security Agreement (Titan International Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bankhereunder, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.including under Sections 2.3,
Appears in 1 contract
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no further obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder hereunder, including under Sections 2.3, 12.6 and 14.2, relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 1 contract
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to BorrowersBorrower Agent.
Appears in 1 contract
Samples: Credit and Security Agreement (Titan International Inc)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after From the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 1 contract
Samples: Loan Agreement (Horizon Global Corp)
Resignation of Issuing Bank. Issuing Bank may resign at any time upon notice to Agent and Borrowers. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a x replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to Borrowers.
Appears in 1 contract
Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)
Resignation of Issuing Bank. The Issuing Bank may resign at any time upon notice to the Agent and Borrowersthe Borrowers after a replacement Issuing Bank has been appointed. On and after From the effective date of such resignation, the Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. The Agent shall promptly shall, before any Issuing Bank resigns, appoint a replacement Issuing Bank, which, as long as no Default or Event of Default exists, shall be reasonably acceptable to the Borrowers.
Appears in 1 contract
