Common use of Retiring Lenders Clause in Contracts

Retiring Lenders. In accordance with Section 2.9.2 of the Existing Credit Agreement, the loans and commitments (the “Retired Loans and Commitments”) of each Retiring Lender are hereby replaced on the Closing Date by the Lenders party hereto and (i) each Lender party hereto hereby accepts any such Retired Loans and Commitments that constitute any portion of their Loans and Commitments set forth on Schedule 1, (ii) the Administrative Agent hereby waives any $3,500 assignment fee that would otherwise be payable on the Closing Date relating to any Retired Loans and Commitments and their placement with Lenders hereunder, (iii) each Lender party hereto that was a Lender under the Existing Credit Agreement immediately prior to the occurrence of the Closing Date, collectively constitute the Required Lenders under the Existing Credit Agreement, and by their signature page hereto hereby waives any deviations from the requirements of Section 2.9.2 under the Existing Credit Agreement with respect to the placement of the Retired Loans and Commitments with the Lenders (including with respect to notice) and (iv) each of the Administrative Agent, the Swingline Lenders and the LC Issuing Banks hereby acknowledges and consents to the foregoing clauses (i) through (iii) (including such placement of the Retired Loans and Commitments with the Lenders party hereto as set forth on Schedule 1).

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Assignment and Assumption (Tampa Electric Co)

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Retiring Lenders. In accordance with Section 2.9.2 of the Existing Credit Agreement, the loans and commitments (the Retired Loans and Commitments”) of each Retiring Lender are hereby replaced on the Closing Date by the Lenders party hereto and (i) each Lender party hereto hereby accepts any such Retired Loans and Commitments that constitute any portion of their Loans and Commitments set forth on Schedule 1, (ii) the Administrative Agent hereby waives any $3,500 assignment fee that would otherwise be payable on the Closing Date relating to any Retired Loans and Commitments and their placement with Lenders hereunder, (iii) each Lender party hereto that was a Lender under the Existing Credit Agreement immediately prior to the occurrence of the Closing Date, collectively constitute the Required Lenders under the Existing Credit Agreement, and by their signature page hereto hereby waives any deviations from the requirements of Section 2.9.2 under the Existing Credit Agreement with respect to the placement of the Retired Loans and Commitments with the Lenders (including with respect to notice) and (iv) each of the Administrative Agent, the Swingline Lenders and the LC Issuing Banks hereby acknowledges and consents to the foregoing clauses (i) through (iii) (including such placement of the Retired Loans and Commitments with the Lenders party hereto as set forth on Schedule 1).

Appears in 1 contract

Samples: Assignment and Assumption (Tampa Electric Co)

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Retiring Lenders. In accordance with Section 2.9.2 of the Existing Credit Agreement, the loans and commitments (the “Retired Loans and Commitments”) of each Retiring Lender are hereby replaced on the Closing Date by the Lenders party hereto and (i) each Lender party hereto hereby accepts any such Retired Loans and Commitments that constitute any portion of their Loans and Commitments set forth on Schedule 1, (ii) the Administrative Agent hereby waives any $3,500 assignment fee that would otherwise be payable on the Closing Date relating to any Retired Loans and Commitments and their placement with Lenders hereunder, (iii) each Lender party hereto that was a Lender under the Existing Credit Agreement immediately prior to the occurrence of the Closing Date, collectively constitute the Required Lenders under the Existing Credit Agreement, and by their signature page hereto hereby waives any deviations from the requirements of Section 2.9.2 under the Existing Credit Agreement with respect to the placement of the Retired Loans and Commitments with the Lenders (including with respect to notice) and (iv) each of the Administrative Agent, the Swingline Lenders Lender and the LC Issuing Banks hereby acknowledges and consents to the foregoing clauses (i) through (iii) (including such placement of the Retired Loans and Commitments with the Lenders party hereto as set forth on Schedule 1).

Appears in 1 contract

Samples: Assignment and Assumption (Tampa Electric Co)

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