Common use of Successor Sustainability Structuring Agent Clause in Contracts

Successor Sustainability Structuring Agent. (i) The Sustainability Structuring Agent may at any time give notice of its resignation to the Administrative Agent, the Lenders and the Opco Borrower. Upon receipt of any such notice of resignation, the Opco Borrower, with the consent of the Required Lenders (not to be unreasonably withheld or delayed), shall have the right to appoint a successor. If no such successor shall have been so appointed and shall have accepted such appointment within 30 days after the retiring Sustainability Structuring Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Sustainability Resignation Effective Date”), then the retiring Sustainability Structuring Agent may (but shall not be obligated to) on behalf of the Revolving Lenders and the Term Lenders, appoint a successor Sustainability Structuring Agent subject to the consents set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Sustainability Resignation Effective Date.

Appears in 3 contracts

Samples: Credit Agreement (Atmus Filtration Technologies Inc.), Credit Agreement (Atmus Filtration Technologies Inc.), Credit Agreement (Cummins Inc)

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Successor Sustainability Structuring Agent. (i) The Sustainability Structuring Agent may at any time give notice of its resignation to the Administrative Agent, the Revolving Credit Lenders and the Opco Borrower. Upon receipt of any such notice of resignation, the Opco BorrowerRequired Revolving Lenders shall have the right, with subject to the consent of the Required Lenders Borrower (not to be unreasonably withheld or delayed), shall have the right to appoint a successor. If no such successor shall have been so appointed by the Required Revolving Lenders and shall have accepted such appointment within 30 days after the retiring Sustainability Structuring Agent gives notice of its resignation resignation, (or such earlier day as shall be agreed by the Required Revolving Lenders) (the “Sustainability Resignation Effective Date”), then the retiring Sustainability Structuring Agent may (but shall not be obligated to) on behalf of the Revolving Lenders and the Term Credit Lenders, appoint a successor Sustainability Structuring Agent subject to the consents set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Sustainability Resignation Effective Date.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Sylvamo Corp), Credit Agreement (Sylvamo Corp)

Successor Sustainability Structuring Agent. (i) The Sustainability Structuring Agent may at any time give notice of its resignation to the Administrative Agent, the Lenders and the Opco Lead Borrower. Upon receipt of any such notice of resignation, the Opco BorrowerRequired ESG Lenders shall have the right, with subject to the consent of the Required Lenders Lead Borrower (not to be unreasonably withheld or delayed), shall have the right to appoint a successor. If no such successor shall have been so appointed by the Required ESG Lenders and shall have accepted such appointment within 30 days after the retiring Sustainability Structuring Agent gives notice of its resignation resignation, (or such earlier day as shall be agreed by the Required ESG Lenders) (the “Sustainability Resignation Effective Date”), then the retiring Sustainability Structuring Agent may (but shall not be obligated to) on behalf of the Revolving Lenders and the Term A-1 Lenders, appoint a successor Sustainability Structuring Agent subject to the consents set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Sustainability Resignation Effective Date.

Appears in 2 contracts

Samples: Credit Agreement (ESAB Corp), Credit Agreement (ESAB Corp)

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Successor Sustainability Structuring Agent. (i) The Sustainability Structuring Agent may at any time give notice of its resignation to the Administrative Agent, the Lenders and the Opco Domestic Borrower. Upon receipt of any such notice of resignation, the Opco Domestic Borrower, with the consent of the Required Lenders (not to be unreasonably withheld or delayed), shall have the right to appoint a successor. If no such successor shall have been so appointed and shall have accepted such appointment within 30 days after the retiring Sustainability Structuring Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Sustainability Resignation Effective Date”), then the retiring Sustainability Structuring Agent may (but shall not be obligated to) on behalf of the Revolving Lenders and the Term Lenders, appoint a successor Sustainability Structuring Agent subject to the consents set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Sustainability Resignation Effective Date.

Appears in 1 contract

Samples: Credit Agreement (Diodes Inc /Del/)

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