Common use of SUBSTITUTION OR REPLACEMENT OF LENDER Clause in Contracts

SUBSTITUTION OR REPLACEMENT OF LENDER. If any Lender shall demand compensation under Section 3.4.1, the Borrower shall not be obligated to make any payment under Section 3.4.1 if, within 90 days after delivery of such demand: (a) The Borrower shall have obtained a substitute Lender (which may be one or more of the Lenders and which shall be reasonably satisfactory to the Administrative Agent) to purchase the portion of the Loan then held by, and to assume the Commitment of, the Lender demanding compensation. Such substitution shall be consummated as an assignment, with the substitute Lender paying to the Lender being replaced the amount of principal, interest, commitment fees and facility fees hereunder owed to the Lender being replaced, accrued through the date of such assignment, and the Borrower paying to the Lender being replaced all other Credit Obligations (including any amounts due under Section 3.2.4) owed to the Lender being replaced, accrued through the date of such assignment; or (b) The Borrower shall have (i) repaid to the Lender demanding compensation its Percentage Interest of the Loan, without premium (but including any repayments required by Section 3.2.4), (ii) repaid to such Lender all other amounts required by this Agreement, (iii) terminated the Commitment of such Lender and (iv) reduced the 364-Day Revolving Loan Maximum Amount of Credit and/or the Three-Year Revolving Loan Maximum Amount of Credit, as the case may be, then in effect by the amount of such Xxxxxx's Commitment, at which time the remaining Lenders' respective Percentage Interests shall be adjusted accordingly.

SUBSTITUTION OR REPLACEMENT OF LENDER. If any Lender shall demand compensation under Section 3.4.13.5.1, the Borrower Company shall not be obligated to make any payment under Section 3.4.1 3.5.1 if, within 90 days after delivery of such demand: (a) The Borrower Company shall have obtained a substitute Lender (which may be one or more of the Lenders and which shall be reasonably satisfactory to the Administrative Agent) to purchase the portion of the Loan then held by, and to assume the Commitment of, the Lender demanding compensation. Such substitution shall be consummated as an assignment, with the substitute Lender paying to the Lender being replaced the amount of principal, interest, commitment fees and facility fees hereunder owed to the Lender being replaced, accrued through the date of such assignment, and the Borrower Company paying to the Lender being replaced all other Credit Obligations (including any amounts due under Section 3.2.43.2.5) owed to the Lender being replaced, accrued through the date of such assignment; or (b) The Borrower Company shall have (i) repaid to the Lender demanding compensation its Percentage Interest of the Loan, without premium (but including any repayments required by Section 3.2.43.2.5), (ii) repaid to such Lender all other amounts required by this Agreement, (iii) terminated the Commitment of such Lender and (iv) reduced the 364-Day Revolving Loan Maximum Amount of Credit and/or the Three-Year Revolving Loan Maximum Amount of Credit, as the case may be, then in effect by the amount of such XxxxxxLender's Commitment, at which time the remaining Lenders' respective Percentage Interests shall be adjusted accordingly.

SUBSTITUTION OR REPLACEMENT OF LENDER. If any Lender shall demand compensation under Section 3.4.1, the Borrower Company shall not be obligated to make any payment under Section 3.4.1 if, within 90 days after delivery of such demand: (a) The Borrower Company shall have obtained a substitute Lender (which may be one or more of the Lenders and which shall be reasonably satisfactory to the Administrative Agent) to purchase the portion of the Loan then held by, and to assume the Commitment of, the Lender demanding compensation. Such substitution shall be consummated as an assignment, with the substitute Lender paying to the Lender being replaced the amount of principal, interest, interest and commitment fees and facility fees hereunder owed to the Lender being replaced, accrued through the date of such assignment, and the Borrower Company paying to the Lender being replaced all other Credit Obligations (including any amounts due under Section 3.2.4) owed to the Lender being replaced, accrued through the date of such assignment; or (b) The Borrower Company shall have (i) repaid to the Lender demanding compensation its Percentage Interest of the Loan, without premium (but including any repayments required by Section 3.2.4), (ii) repaid to such Lender all other amounts required by this Agreement, (iii) terminated the Commitment of such Lender and (iv) reduced the 364-Day Revolving Loan Maximum Amount of Credit and/or the Three-Year Revolving Loan Maximum Amount of Credit, as the case may be, then in effect by the amount of such Xxxxxx's Commitment, at which time the remaining Lenders' respective Percentage Interests shall be adjusted accordingly.