Common use of Substitution of a Lender Clause in Contracts

Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) then, in each case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a “Substitute Lender”) which is willing to assume all of the obligations of such Lender, for consideration equal to the outstanding principal amount of such Lender’s Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 as if all of such Lender’s Loans were being prepaid in full on such date). Subject to the execution and delivery of new notes, an Assignment and Acceptance, and such other documents as such Lender may reasonably require, such Substitute Lender shall be a “Lender” for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 and 4.06 (without duplication of any payments made to such Lender by the Borrower or the Substitute Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 with respect to the time prior to such replacement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Southwest Gas Corp)

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Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) Sections 3.6 or 3.7 in an aggregate amount in excess of $25,000, then, in each such case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit Notes the Loan Documents to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent and the Swing Line Lender (a “Substitute "Proposed Lender”) which is willing "), if such Proposed Lender agrees to assume all of the obligations of such Lender, Lender for consideration equal to the outstanding principal amount of such Lender’s 's Revolving Credit Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Loan Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 3.5 as if all of such Lender’s 's Loans were being prepaid in full on such date). Subject to the execution and delivery of new notes, an Assignment instrument of assignment and Acceptanceassumption, and such other documents as such Lender may reasonably require, such Substitute Proposed Lender shall be a "Lender" for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 3.5, 3.6, 11.5 and 4.06 11.8 (without duplication of any payments made to such Lender by the Borrower or the Substitute Proposed Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 with respect to the time prior to such replacement. The Borrower shall not have the right to so replace a Lender unless it gives notice of its intention to do so within 90 days after its right to replace such Lender arises under this Section.

Appears in 1 contract

Samples: Credit Agreement (Furon Co)

Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) then, in each case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a “Substitute Lender”) which is willing to assume all of the obligations of such Lender, for consideration equal to the outstanding principal amount of such Lender’s Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 as if all of such Lender’s Loans were being prepaid in full on such date). Subject to the execution and delivery of new notes, an Assignment and Acceptance, and such other documents as such Lender may reasonably require, such Substitute Lender shall be a “Lender” for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 and 4.06 (without duplication of any payments made to such Lender by the Borrower or the Substitute Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 with respect to the time prior to such replacement.. ARTICLE V

Appears in 1 contract

Samples: Revolving Credit Agreement (Southwest Gas Corp)

Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) Sections 3.6, 3.7 or 3.10 in an aggregate amount in excess of $25,000, then, in each such case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit 's Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a “Substitute "Proposed Lender”) which is willing "), if such Proposed Lender agrees to assume all of the obligations of such Lender, Lender for consideration equal to the outstanding principal amount of such Lender’s 's Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Loan Documents to such Lender on or prior to the date of such transfer (includingin cluding, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 3.5 as if all of such Lender’s 's Loans were being prepaid in full on such date). Subject to the execution and delivery of new notesNotes, an Assignment instrument of assignment and Acceptanceassumption, and such other documents as such Lender may reasonably require, such Substitute Proposed Lender shall be a "Lender" for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 3.5, 3.6, 3.7, 11.5 and 4.06 11.8 (without duplication of any payments made to such Lender by the Borrower or the Substitute Proposed Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 3.12 with respect to the time prior to such replacement.

Appears in 1 contract

Samples: Credit Agreement (International Game Technology)

Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) Sections 3.6, 3.7 or 3.10 in an aggregate amount in excess of $25,000, then, in each such case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit 's Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a “Substitute "Proposed Lender”) which is willing "), if such Proposed Lender agrees to assume all of the obligations of such Lender, Lender for consideration equal to the outstanding principal amount of such Lender’s 's Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Loan Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 3.5 as if all of such Lender’s 's Loans were being prepaid in full on such date). Subject to the execution and delivery of new notesNotes, an Assignment instrument of assignment and Acceptanceassumption, and such other documents as such Lender may reasonably require, such Substitute Proposed Lender shall be a "Lender" for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 3.5, 3.6, 3.7, 11.5 and 4.06 11.8 (without duplication of any payments made to such Lender by the Borrower or the Substitute Proposed Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 3.12 with respect to the time prior to such replacement.

Appears in 1 contract

Samples: Credit Agreement (International Game Technology)

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Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) in an aggregate amount in excess of $25,000, then, in each case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s 's Revolving Credit Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a "Substitute Lender") which is willing to assume all of the obligations of such Lender, for consideration equal to the outstanding principal amount of such Lender’s 's Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 as if all of such Lender’s 's Loans were being prepaid in full on such date). Subject to the execution and delivery of new notes, an Assignment and Acceptance, and such other documents as such Lender may reasonably require, such Substitute Lender shall be a "Lender" for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 and 4.06 (without duplication of any payments made to such Lender by the Borrower or the Substitute Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 with respect to the time prior to such replacement.

Appears in 1 contract

Samples: Multi Year Revolving Credit Agreement (Southwest Gas Corp)

Substitution of a Lender. Notwithstanding anything to the contrary contained herein, if any Lender shall request compensation pursuant to Section 4.04(b)(i) and (ii) in an aggregate amount in excess of $25,000, then, in each case, the Borrower may require that such Lender transfer all of its right, title and interest under this Agreement and such Lender’s Revolving Credit 's Notes to one or more of the other Lenders or any other lender identified by the Borrower and reasonably acceptable to the Administrative Agent (a “Substitute "Proposed Lender") which is willing to assume all of the obligations of such Lender, for consideration equal to the outstanding principal amount of such Lender’s 's Loans, together with interest thereon to the date of such transfer and all other amounts payable under the Credit Documents to such Lender on or prior to the date of such transfer (including, without limitation, any fees accrued hereunder and any amounts which would be payable under Section 4.03 as if all of such Lender’s 's Loans were being prepaid in full on such date). Subject to the execution and delivery of new notes, an Assignment and Acceptance, and such other documents as such Lender may reasonably require, such Substitute Proposed Lender shall be a "Lender" for all purposes hereunder. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements of the Borrower contained in Sections 4.04 and 4.06 (without duplication of any payments made to such Lender by the Borrower or the Substitute Proposed Lender) shall survive for the benefit of any Lender replaced under this Section 4.08 with respect to the time prior to such replacement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Southwest Gas Corp)

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