Right of replacement Sample Clauses

Right of replacement or repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company under Clause 14 (Tax gross-up and indemnities) or Clause 15 (Increased Costs), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment and Ancillary Commitment, if any, of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans or give the Agent notice of its intention to replace that Lender in accordance with paragraph (d) below. (b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment and Ancillary Commitment, if any, of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice of cancellation under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan on utilisation of any Ancillary Facility is outstanding shall repay that Lender’s participation in that Loan or utilisation of Ancillary Facility granted by that Lender or, as the case may be, provide full cash cover in respect of a contingent liability under an Ancillary Facility. (d) The Company may, in the circumstances set out in paragraph (a) above, on five Business Days’ prior notice to the Agent and that Lender, replace that Lender by requiring that Lender to (and, to the extent permitted by law, that Lender shall) transfer pursuant to Clause 25 (Changes to the Finance Parties) all (and not part only) of its rights and obligations under this Agreement to a Lender or other bank, financial institution, trust, fund or other entity selected by the Company which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with Clause 25 (Changes to the Finance Parties) for a purchase price in cash or other cash payment payable at the time of the transfer equal to the outstanding principal amount of such Lender’s participation in the outstanding Loans and all accrued interest (to the extent that the Agent has not given a notification under Clause 25.8 (Pro rata interest settlement)), Break Costs and other amounts payable in relation thereto under the Finance Documen...

Right of replacement or cancellation and prepayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under clause 12.2 (Tax gross-up); (ii) any Lender claims indemnification from the Borrower under clause 12.3 (Tax indemnity) or clause 13 (Increased Costs); or (iii) any Lender becomes a Defaulting Lender, the Borrower may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues or whilst the relevant Lender continues to be a Defaulting Lender, give the Agent notice of cancellation of the Commitments of that Lender and its intention to procure the repayment of that Lxxxxx’s participation in the Loan or give the Agent notice of its intention to replace that Lender in accordance with clause 7.6(d). (b) On receipt of a notice referred to in clause 7.6(a) above, the Available Commitments of that Lender shall immediately be reduced to zero and (unless the Available Commitments of the relevant Lender are replaced in accordance with clause 7.6(d)) the Total Commitments shall be reduced accordingly. The Agent shall as soon as practicable after receipt of a notice referred to in clause 7.6(a)(iii) above, notify all the Lenders. (c) On the last day of each Interest Period which ends after the Borrower has given notice under clause 7.6(a) above in relation to a Lender (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay that Lxxxxx’s participation in the Loan and that Lxxxxx’s corresponding Available Commitment shall be immediately cancelled in the amount of the participations repaid. (d) The Borrower may, in the circumstances set out in clause 7.6(a), on 15 Business Days’ prior notice to the Agent and that Lender or in the circumstances set out in clause 7.1, on 15 Business Days’ prior notice to the Agent and that Lender (subject to such period not extending beyond the earlier of the dates referred to in clause 7.1(c)), replace that Lender by requiring that Lender to assign (and, to the extent permitted by law, that Lender shall assign) pursuant to clause 31 (Changes to the Lenders) all (and not part only) of its rights under this Agreement to a Lender or other bank, financial institution or fund selected by the Borrower which confirms its willingness to undertake and does undertake all the obligations of the assigning Lender in accordance with clause 31 (Changes to the Lenders) for a purchase price in cash or other cash payment payable ...

Right of replacement or repayment and cancellation in relation to a single Senior Lender (A) If: (1) any sum payable to any Senior Lender by an Obligor is required to be increased under Clause 13.1 (Tax gross-up); or (2) any Senior Lender claims indemnification from an Obligor under Clause 13.2 (Tax indemnity) or Clause 14.1 (Increased costs), the Borrower may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Senior Agent notice of cancellation of the Commitment of that Senior Lender and its intention to procure the repayment of that Senior Lender's participation in the Senior Loans. (B) On receipt of a notice of cancellation referred to in paragraph (A) above, the Commitment of that Senior Lender shall immediately be reduced to zero. (C) On the last day of each Interest Period which ends after the Borrower has given notice of cancellation under paragraph (A) above (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay the relevant Senior Lender's participation in the Senior Loan together with all interest and other amounts accrued under the Finance Documents.

Right of replacement. 29.1 The Airline reserves the right to demand the replacement at any time by giving three (3) months’ notice of any employee agent or subcontractor of IFP working on the Airline's account if in the opinion of the Airline the performance of such person is unsatisfactory. The Airline agrees to inform IFP in writing of the reasons and supporting evidence for the demand to replace such employee, agent or sub-contractor. If IFP receives such a demand it shall replace such person. 29.2 IFP warrants that the core team will remain as specified at the outset of this Agreement unless any of this core team leaves IFP. In such circumstances, IFP warrants that it will replace such personnel with personnel of the same or higher caliber and experience. 29.3 It is imperative that a dedicated account manager is appointed to work on the Airline account. Should the current account manager leave IFP for whatever reason, the Airline is entitled to review the resumes of any prospective candidates for this role and approve the appointment, since working with the account manager will be a critical factor in the success of the working relationship of the Parties.

Right of replacement or repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 12.2 (Tax gross-up); or (ii) any Lender claims indemnification from a Borrower under Clause 12.3 (Tax indemnity) or Clause 13 (Increased costs), the Borrowers may with the prior written consent of the Majority Lenders, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans or give the Agent notice of its intention to replace that Lender in accordance with paragraph (d) below. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Borrowers have given notice of cancellation under paragraph (a) above (or, if earlier, the date specified by the Borrowers in that notice), the Borrowers shall repay that Lender’s participation in that Loan.

Right of replacement. AllTech may, upon request, require Subcontractor to replace any personnel, including a project manager, deployed by Subcontractor under the terms of this Agreement. Subcontractor will replace any personnel within thirty (30) days after request from AllTech with an employee of Subcontractor reasonably acceptable to AllTech.

Right of replacement. EDGE may, upon reasonable request, require Subcontractor to replace any personnel, including a project manager, deployed by Subcontractor under the terms of this Agreement. Subcontractor will replace any personnel promptly after request from EDGE with an employee of Subcontractor reasonably acceptable to EDGE.

Right of replacement or repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 12.2 (Tax gross-up); (ii) any Lender claims indemnification from the Company under Clause 12.3 (Tax indemnity) or Clause 13.1 (Increased Costs); or (iii) any Lender is a Non-Consenting Lender or has become and continues to be a Defaulting Lender, the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues or where such Lender is a Non- Consenting Lender or continues to be a Defaulting Lender, give the Agent notice of cancellation of the Commitment(s) of that Xxxxxx and its intention to procure the repayment of that Xxxxxx's participation in the Loans or give the Agent notice of its intention to replace that Lender in accordance with paragraph

Right of replacement or repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 (Tax gross-up); (ii) any Lender claims indemnification from the Company under Clause 13.3 (Tax indemnity) or Clause 14.1 (Increased costs); (iii) any Lender notifies the Agent of its Mandatory Cost; or (iv) any amount payable to any Lender by an Obligor established in France for tax purposes under a Finance Document is not, or will not be (when the relevant corporate income tax is calculated) treated as a deductible charge or expense for French tax purposes for that Obligor by reason of that amount being (i) paid or accrued to a Lender incorporated, domiciled, established or acting through a Facility Office situated in a Non-Cooperative Jurisdiction, or (ii) paid to an account opened in the name of or for the benefit of that Lender in a financial institution situated in a Non-Cooperative Jurisdiction, the Company may, whilst (in the case of paragraphs (i), (ii) and (iv) above) the circumstance giving rise to the requirement for that increase, indemnification or non-deductibility for French tax purposes continues or (in the case of paragraph (iii) above) that the Mandatory Cost greater than zero, give the Agent notice of cancellation of the Commitment(s) of that Lender and its intention to procure the repayment of that Lender's participation in the Loans or give the Agent notice of its intention to replace that Lender in accordance with paragraph (d) below.

Right of replacement or repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to the Lender by the Company is required to be increased under paragraph (c) of Clause 13.2 (Tax gross-up); or (ii) the Lender claims indemnification from the Company under Clause 13.3 (Tax indemnity) or Clause 14.1 (Increased costs), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Lender notice of cancellation of the Commitment of the Lender and its intention to procure the repayment of the Lender's participation in the Loans. (b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of the Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice of cancellation under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), the Company to which a Loan is outstanding shall repay the Lender's participation in that Loan.