Common use of Substitute Lenders Clause in Contracts

Substitute Lenders. In the event that the Borrower is required under the provisions of subsection 2.6C or this subsection 2.7 to make payments in a material amount to any Lender, the Borrower may, so long as, no Event of Default or Potential Event of Default shall have occurred and be continuing, elect to terminate such Lender as a party to this Agreement, so long as, concurrently with such termination, (i) the Borrower pays to that Lender all principal, interest and fees and other amounts (including, without limitation, amounts, if any, owed under subsection 2.6C or this subsection 2.7) owed to such Lender through such date of termination, (ii) another financial institution satisfactory to the Borrower and the Administrative Agent (or if the Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) agrees, as of such date, to become a Lender for all purposes under this Agreement (whether by assignment or amendment) and to assume all obligations of the Lender to be terminated as of such date, and (iii) all documents and supporting materials necessary, in the judgment of the Administrative Agent (or if the Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) to evidence the substitution of such Lender have been received and approved by the Administrative Agent as of such date.

Substitute Lenders. In the event that the Borrower Company is required under the provisions of subsection 2.6C or this subsection 2.7 to make payments in a material amount to any LenderLender or in the event any Lender fails to lend to Company in accordance with this Agreement, the Borrower Company may, so long as, as no Event of Default or Potential Event of Default shall have occurred and be continuing, elect to terminate such Lender as a party to this Agreement, so long as; provided that, concurrently with such termination, (i) the Borrower pays to Company shall pay that Lender all principal, interest and fees and other amounts (including, including without limitation, limitation amounts, if any, owed under subsection 2.6C or this subsection 2.7) owed due to be paid to such Lender with respect to all periods through such date of termination, (ii) another financial institution satisfactory to the Borrower Company and the Administrative Agent (or if or, in the event Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) agreesshall agree, as of such date, to become a Lender for all purposes under this Agreement (whether by assignment or amendment) and to assume all obligations of the Lender to be terminated as of such date, and (iii) all documents and supporting materials necessary, in the judgment of the Administrative Agent (or if or, in the event Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) to evidence the substitution of such Lender shall have been received and approved by the Administrative Agent as of such date.

Substitute Lenders. In the event that the Borrower Company is required under the provisions of subsection 2.6C or this subsection 2.7 to make payments in a material amount to any LenderLender or in the event any Lender fails to lend to Company in accordance with this Agreement, the Borrower Company may, so long as, as no Event of Default or Potential Event of Default shall have occurred and be continuing, elect to terminate such Lender as a party to this Agreement, so long as; provided that, concurrently with such termination, (i) the Borrower pays to Company shall pay that Lender all principal, interest and fees and other amounts (including, without including with- out limitation, amounts, if any, owed under subsection 2.6C or this subsection 2.7) owed to such Lender through such date of termination, (ii) another financial institution satisfactory to the Borrower Company and the Administrative Agent (or if the Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) agreesshall agree, as of such date, to become a Lender for all purposes under this Agreement (whether by assignment or amendment) and to assume all obligations of the Lender to be terminated as of such date, and (iii) all documents and supporting materials necessary, in the judgment of the Administrative Agent (or if the Administrative Agent is also the Lender to be terminated, the successor Administrative Agent) to evidence the substitution of such Lender shall have been received and approved by the Administrative Agent as of such date.

Substitute Lenders. In the event that the Borrower Company is required under the provisions of subsection 2.6C or this subsection 2.7 to make payments in a material amount to any LenderLender or in the event any Lender fails to lend to Company in accordance with this Agreement, the Borrower Company may, so long as, as no Event of Default or Potential Event of Default shall have occurred and be continuing, elect to terminate such Lender as a party to this Agreement, so long as; provided that, concurrently with such termination, (i) the Borrower pays to Company shall pay that Lender all principal, interest and fees and other amounts (including, including without limitation, limitation amounts, if any, owed under subsection 2.6C or this subsection 2.7) owed due to be paid to such Lender with respect to all periods through such date of termination, (ii) another financial institution satisfactory to Company and Co-Administrative Agents (or, in the Borrower and the case of a Co-Administrative Agent (or if the Administrative Agent that is also the Lender to be terminated, the its successor Co-Administrative Agent) agreesshall agree, as of such date, to become a Lender for all purposes under this Agreement (whether by assignment or amendment) and to assume all obligations of the Lender to be terminated as of such date, and (iii) all documents and supporting materials necessary, in the judgment of Co-Administrative Agents (or, in the case of a Co-Administrative Agent (or if the Administrative Agent that is also the Lender to be terminated, the its successor Co-Administrative Agent) to evidence the substitution of such Lender shall have been received and approved by the Co-Administrative Agent Agents as of such date.

Substitute Lenders. In the event that the Borrower Company is required under the provisions of subsection 2.6C or this subsection 2.7 to make payments in a material amount to any LenderLender or in the event any Lender fails to lend to Company in accordance with this Agreement, the Borrower Company may, so long as, as no Event of Default or Potential Event of Default shall have occurred and be continuing, elect to terminate such Lender as a party to this Agreement, so long as; provided that, concurrently with such termination, (i) the Borrower pays to Company shall pay that Lender all principal, interest and fees and other amounts (including, including without limitation, limitation amounts, if any, owed under subsection 2.6C or this subsection 2.7) owed due to be paid to such Lender with respect to all periods through such date of termination, (ii) another financial institution satisfactory to Company and Co-Administrative Agents (or, in the Borrower and the case of a Co-Administrative Agent (or if the Administrative Agent that is also the Lender to be terminated, the its successor Co-Administrative Agent) agreesshall agree, as of such date, to become a Lender for all purposes under this Agreement (whether by assignment or amendment) and to assume all obligations of the Lender to be terminated as of such date, and (iii) all documents and supporting materials necessary, in the judgment of Co- Administrative Agents (or, in the case of a Co-Administrative Agent (or if the Administrative Agent that is also the Lender to be terminated, the its successor Co-Administrative Agent) to evidence the substitution of such Lender shall have been received and approved by the Co-Administrative Agent Agents as of such date.