Common use of Substitution of Banks Clause in Contracts

Substitution of Banks. Upon the receipt by either Borrower from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.3, the Company may: (i) request the Affected Bank to cooperate with the Company in its efforts to obtain a replacement bank or financial institution satisfactory to the Company to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (Applied Power Inc), Multicurrency Credit Agreement (Applied Power Inc)

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Substitution of Banks. Upon the receipt by either Borrower the Borrowers from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.13.1 or 3.3, 4.2 or ------------- 4.3any determination of illegality under Section 3.2, the Company Borrowers may: (i) request the Affected Bank to cooperate with the Company in use its best efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrowers to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 2 contracts

Samples: Assignment and Acceptance Agreement (Nuveen John Company), Credit Agreement (Nuveen John Company)

Substitution of Banks. Upon the receipt by either Borrower the Company from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 4.7 or ------------- 4.3----------- Section 4.15, the Company may: (i) request the Affected Bank to cooperate with the Company in use its best ------------ efforts to obtain a replacement bank or financial institution satisfactory to the Company to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); or (ii) ---------------- request one or more ---------------- of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 2 contracts

Samples: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/)

Substitution of Banks. Upon the receipt by either the Borrower from any Bank --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.3, the Company Borrower ------------- ----------- may: (i) request the Affected Bank Agent to cooperate with the Company in use its best efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrower to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and ----------------- assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Secured Credit Agreement (System Software Associates Inc)

Substitution of Banks. Upon the receipt by either any Borrower from any Bank --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.3, ------------- ----------- --- --- the Company Borrowers may: (i) request the Affected Bank to cooperate with the Company Borrowers in its efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrowers to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Apw LTD)

Substitution of Banks. Upon the receipt by either the Borrower from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.3, the Company Borrower may: (i) request the Affected Bank to cooperate with the Company Borrower in its efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrower to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Apw LTD)

Substitution of Banks. Upon the receipt by either Borrower the Company from any Bank --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1Sections 4.01 and 4.03, 4.2 or ------------- 4.3, the Company may: (i) request the Affected Bank to cooperate with the Company in its use commercially reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Company to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the ---------------- other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Pledge Agreement (Cb Commercial Real Estate Services Group Inc)

Substitution of Banks. Upon If a Bank becomes a Defaulted Bank or the receipt by either Borrower Company receives notice from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.13.01, 4.2 3.02 or ------------- 4.33.03 (each such Bank being referred to as an "Affected Bank"), the Company may: (i) request the Affected Bank to cooperate with the Company in use its best efforts to obtain a replacement bank or financial institution satisfactory to the Company to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one or more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Cihc Inc)

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Substitution of Banks. Upon the receipt by either Borrower the Company from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or Sections 4.01 and ------------- 4.34.03, the Company may: (i) request the Affected Bank to cooperate with the Company in its use commercially reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Company to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Pledge Agreement (Cb Richard Ellis Services Inc)

Substitution of Banks. Upon the receipt by either the Borrower from any Bank --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.34.03, the Company ------------- Borrower may: (ia) request the Affected Bank to cooperate with the Company in use its best efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrower to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment Uncommitted Line Portion (a "Replacement Bank"); (iib) ---------------- request one or more of ---------------- the other Banks to acquire and assume all or part of such Affected Bank's Loans and CommitmentUncommitted Line Portion; or (iiic) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (ia) or (iiic) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Atmos Energy Corp)

Substitution of Banks. Upon the receipt by either Borrower the Company from any --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.34.03, the Company ------------- may: (i) request the Affected Bank to cooperate with the Company in use its best efforts to obtain a replacement bank or financial institution satisfactory to the Company and to the Agent (a "Replacement Bank") to acquire and assume all or a ratable part of all ---------------- of such Affected Bank's Loans and Commitment (a "Replacement Bank")Commitment; (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Globalcenter Inc)

Substitution of Banks. Upon the receipt by either the Borrower from any Bank --------------------- Bank (an "Affected Bank") of a claim for compensation under Section 4.1, 4.2 or ------------- 4.3, ------------- ----------- --- --- the Company Borrower may: (i) request the Affected Bank to cooperate with the Company Borrower in its efforts to obtain a replacement bank or financial institution satisfactory to the Company Borrower to acquire and assume all or a ratable part of all of such Affected Bank's Loans and Commitment (a "Replacement Bank"); (ii) ---------------- request one more of the other Banks to acquire and assume all or part of such Affected Bank's Loans and Commitment; or (iii) designate a Replacement Bank. Any such designation of a Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Apw LTD)

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