Common use of Substitution of Lender Clause in Contracts

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans has been suspended pursuant to Section 2.12, (b) any Lender has demanded compensation under Section 2.11 or 2.14, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d) any Lender is a Defaulting Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; provided that:

Appears in 3 contracts

Samples: Loan Agreement (Becton Dickinson & Co), Day Term Loan Agreement (Becton Dickinson & Co), Bridge Term Loan Agreement (Becton Dickinson & Co)

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Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is defaults in its obligations to fund Advances hereunder or (e) any Lender shall be a Defaulting Non-Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the "Replaced Lender") with one or more Eligible Assignee(s), (each, a "Replacement Lender") acceptable to the Administrative Agent; , provided that:

Appears in 2 contracts

Samples: Year Credit Agreement (Becton Dickinson & Co), Year Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a2) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans has been suspended pursuant to Section 2.12, (b3) any Lender has demanded compensation under Section 2.11 or 2.14, (c4) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d5) any Lender is a Defaulting Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; provided that:

Appears in 1 contract

Samples: Day Term Loan Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Eurocurrency Rate Loans Advances has been suspended pursuant to Section 2.122.14, (b) any Lender has demanded compensation under Section 2.11 2.13 or 2.14, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is a Defaulting Lender or (e) any Lender shall be a Non‑Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; Agent and each Issuing Bank, provided that:

Appears in 1 contract

Samples: Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d) any Lender is a Defaulting Lenderdefaults in its obligations to fund Advances hereunder, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the "Replaced Lender") with one or more Eligible Assignee(s), (each, a "Replacement Lender") acceptable to the Administrative Agent; , provided that:

Appears in 1 contract

Samples: Year Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is a Defaulting Lender or (e) any Lender shall be a Non-Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; , provided that:

Appears in 1 contract

Samples: Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.14, 2.15 or (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 9.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d) any Lender is a Defaulting Lenderconsent, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the "Replaced Lender") with one or more Eligible Assignee(s), (each, a "Replacement Lender") acceptable to the Administrative Agent; , provided that:

Appears in 1 contract

Samples: Credit Agreement (Electric Lightwave Inc)

Substitution of Lender. If (a1) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans has been suspended pursuant to Section 2.12, (b2) any Lender has demanded compensation under Section 2.11 or 2.14, (c3) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 ARTICLEArticle VIII requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d4) any Lender is a Defaulting Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; provided that:

Appears in 1 contract

Samples: 364 Day Term Loan Agreement and Joinder Agreement (Becton Dickinson & Co)

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Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is defaults in its obligations to fund Advances hereunder or (e) any Lender shall be a Defaulting Non-Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; , provided that:: Credit Agreement

Appears in 1 contract

Samples: Year Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any ---------------------- Lender to make, Continue or otherwise maintain Eurodollar Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.14, 2.15 or (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 9.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d) any Lender is a Defaulting Lenderconsent, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the "Replaced Lender") with one --------------- or more Eligible Assignee(s), (each, a "Replacement Lender") acceptable to the ------------------ Administrative Agent; , provided that:: --------

Appears in 1 contract

Samples: Credit Agreement (Electric Lightwave Inc)

Substitution of Lender. If (a1) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Rate Loans has been suspended pursuant to Section 2.12, (b2) any Lender has demanded compensation under Section 2.11 or 2.14, (c3) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 ARTICLE VIII requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or (d4) any Lender is a Defaulting Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; provided that:

Appears in 1 contract

Samples: Day Term Loan Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Eurocurrency Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is a Defaulting Lender or (e) any Lender shall be a Non‑Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; Agent and each Issuing Bank, provided that:

Appears in 1 contract

Samples: Credit Agreement (Becton Dickinson & Co)

Substitution of Lender. If (a) the obligation of any Lender to make, Continue or otherwise maintain Eurodollar Eurocurrency Rate Loans Advances has been suspended pursuant to Section 2.122.13, (b) any Lender has demanded compensation under Section 2.11 2.12 or 2.142.15, (c) any Lender shall fail to consent to an amendment or a waiver which pursuant to the terms of Section 8.01 requires the consent of all Lenders and with respect to which the Majority Lenders shall have granted their consent or consent, (d) any Lender is a Defaulting Lender or (e) any Lender shall be a Non-Extending Lender, the Borrower shall have the right, if no Default or Event of Default then exists, at the Borrower’s expense, to replace such Lender (the “Replaced Lender”) with one or more Eligible Assignee(s), (each, a “Replacement Lender”) acceptable to the Administrative Agent; Agent and each Issuing Bank, provided that:

Appears in 1 contract

Samples: Credit Agreement (Becton Dickinson & Co)

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