Common use of Substitution of Banks Clause in Contracts

Substitution of Banks. Upon the receipt by the Borrowers from any Bank (an “Affected Bank”) of a claim for compensation under Section 2.13 or 2.15, the Borrowers may: (i) request the Affected Bank to use its reasonable efforts to obtain a replacement bank satisfactory to the Borrowers to acquire and assume all or 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 any 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: Credit Agreement (Blackrock Funds), Credit Agreement (Blackrock Fundamental Growth Fund, Inc.)

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Substitution of Banks. Upon the receipt by the Borrowers a Borrower from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 or 2.153.3, the Borrowers such Borrower may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Schawk Inc), Term Credit Agreement (Schawk Inc)

Substitution of Banks. Upon the receipt by the Borrowers from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 or 2.154.3, the Borrowers Company may: (i) request the Affected Bank Agent to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (System Software Associates Inc)

Substitution of Banks. Upon the receipt by the Borrowers from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 or 2.153.3, the Borrowers may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Specialty Equipment Companies Inc)

Substitution of Banks. Upon the receipt by the Borrowers either Borrower from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 3.1, 3.2 or 2.153.3, the Borrowers Company may: (i) request the Affected Bank to use cooperate with the Company in its reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Applied Power Inc)

Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 3.1, 3.2 or 2.153.3, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 withheldwithheld or delayed).

Appears in 1 contract

Samples: Credit Agreement (Mgic Investment Corp)

Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 4.7 or 2.15Section 4.15, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); or (ii) request one or more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Pan Pacific Retail Properties Inc)

Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an “Affected Bank”"AFFECTED BANK") of a claim for compensation under Section 2.13 or 2.15SECTION 4.03, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a “Replacement Bank”"REPLACEMENT BANK"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Genlyte Group Inc)

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Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 or 2.153.03, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company and to the Agent (a "Replacement Bank") to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a “Replacement Bank”); Commitment, (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Ns Group Inc)

Substitution of Banks. Upon the receipt by the Borrowers either Borrower from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 3.1, 3.2 or 2.153.3, the Borrowers Company may: (i) request the Affected Bank to use cooperate with the Company in its reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a "Replacement Bank"); (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Applied Power Inc)

Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 3.3 or 2.153.6, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company and to the Agent (a "Replacement Bank") to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a “Replacement Bank”)Commitment; (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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 (Cd Radio Inc)

Substitution of Banks. Upon the receipt by the Borrowers Company from any Bank (an "Affected Bank") of a claim for compensation under Section 2.13 or 2.153.03, the Borrowers Company may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Company and to each Agent (a "Replacement Bank") to acquire and assume all or a ratable part of all of such Affected Bank’s 's Loans and Commitment (a “Replacement Bank”)Commitment; (ii) request one more of the other Banks to acquire and assume all or any part of such Affected Bank’s '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)each Agent.

Appears in 1 contract

Samples: Credit Agreement (R&b Falcon Corp)

Substitution of Banks. Upon the receipt by the Borrowers Borrower from any Bank (an “Affected Bank”) of a claim for compensation under Section 2.13 pursuant to Sections 4.3 or 2.154.6, the Borrowers Borrower may: (i) request the Affected Bank to use its reasonable best efforts to obtain a replacement bank or financial institution satisfactory to the Borrowers Borrower to acquire and assume all or 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 any part of such Affected Bank’s Loans and Commitment; 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 (Textainer Group Holdings LTD)

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