Right of replacement of a single Lender. If: (a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 (Tax gross-up); or (b) any Lender claims indemnification from the Company under Clause 13.3 (Tax indemnity) or Clause 14 (Increased costs), the Company may: (i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or (ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's participation in that Loan.
Appears in 5 contracts
Samples: Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC), Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC), Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC)
Right of replacement of a single Lender. If:
(a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 14.2 (Tax gross-up); or
(b) any Lender claims indemnification from the Company under Clause 13.3 14.3 (Tax indemnity) or Clause 14 15 (Increased costs), the Company may:
(i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or
(ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each the Borrower to which a Loan is outstanding shall repay that Lender's participation in each Loan that Loanis outstanding.
Appears in 3 contracts
Samples: Debt Bridge Facility Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC)
Right of replacement of a single Lender. If:
(a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 (Tax gross-up); or
(b) any Lender claims indemnification from the Company under Clause 13.3 (Tax indemnity) or Clause 14 (Increased costs), the Company may:
(i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's ’s Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or
(ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's ’s participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's ’s participation in that Loan.
Appears in 2 contracts
Samples: Multicurrency Loan Facility Agreement (Xstrata PLC), Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC)
Right of replacement of a single Lender. If:
(a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 14.2 (Tax gross-up); or
(b) any Lender claims indemnification from the Company under Clause 13.3 14.3 (Tax indemnity) or Clause 14 15 (Increased costs), the Company may:
(i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's ’s Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or
(ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's ’s participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each the Borrower to which a Loan is outstanding shall repay that Lender's ’s participation in each Loan that Loanis outstanding.
Appears in 1 contract
Right of replacement of a single Lender. If:
(a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 14.2 (Tax gross-up); or
(b) any Lender claims indemnification from the Company under Clause 13.3 14.3 (Tax indemnity) or Clause 14 15 (Increased costs), the Company may:
(i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or
(ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's participation in that Loan.
Appears in 1 contract
Right of replacement of a single Lender. If:
(a) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 13.2 14.2 (Tax gross-up); or
(b) any Lender claims indemnification from the Company under Clause 13.3 14.3 (Tax indemnity) or Clause 14 15 (Increased costs), the Company may:
(i) (whilst the circumstance giving rise to the requirement or indemnification continues) arrange for the transfer of the whole (but not part only) of that Lender's ’s Commitment and participations in the Loans to a new or existing Lender willing to accept that transfer and acceptable to the Company and the remaining Lenders; or
(ii) give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's ’s participation in the Utilisations, whereupon the Commitment of that Lender shall immediately be reduced to zero. On the last day of each Interest Period which ends after the Company has given notice under this paragraph (ii) (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's ’s participation in that Loan.
Appears in 1 contract
Samples: Multicurrency Loan Facility and Subscription Agreement (Xstrata PLC)