Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank.
Appears in 10 contracts
Samples: Credit Agreement (Unova Inc), Credit Agreement (Thomas & Betts Corp), Credit Agreement (Litton Industries Inc)
Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.
Appears in 6 contracts
Samples: Credit Agreement (Nortel Networks Corp), Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks LTD)
Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and assume the Commitment of such Bank.
Appears in 4 contracts
Samples: Credit Agreement (Litton Industries Inc), Credit Agreement (Litton Industries Inc), Credit Agreement (Litton Industries Inc)
Substitution of Bank. If (i) the obligation of any Bank to make or maintain Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and assume the Commitment of such Bank.
Appears in 1 contract
Samples: Bridge Loan Agreement (Pentair Inc)
Substitution of Bank. 8.6 If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank.
Appears in 1 contract
Samples: Security Agreement (Holly Corp)
Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) satisfactory to the Company and the Agent to purchase the Note of such Bank at par plus all amounts owed to such Bank hereunder and to assume the Commitment of such Bank.
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