Common use of Successor Swing Line Lender and Issuing Lender Clause in Contracts

Successor Swing Line Lender and Issuing Lender. Any resignation of Administrative Agent pursuant to subsection 9.5A shall also constitute the resignation of Xxxxx Fargo or its successor as Swing Line Lender and Issuing Lender, and any successor Administrative Agent appointed pursuant to subsection 9.5A shall, upon its acceptance of such appointment, become the successor Swing Line Lender and an Issuing Lender for all purposes hereunder. In such event (i) Company shall prepay any outstanding Swing Line Loans made by the retiring Administrative Agent in its capacity as Swing Line Lender, (ii) upon such prepayment, the retiring Administrative Agent and Swing Line Lender shall surrender any Swing Line Note held by it to Company for cancellation, (iii) if so requested by the successor Administrative Agent and Swing Line Lender in accordance with subsection 2.1E, Company shall issue a Swing Line Note to the successor Administrative Agent and Swing Line Lender substantially in the form of Exhibit V annexed hereto, in the amount of the Swing Line Loan Commitment then in effect and with other appropriate insertions and (iv) such successor Issuing Lender shall issue letters of credit in substitution for the Letters of Credit issued by the retiring Issuing Lender, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring Issuing Lender to effectively assume the obligations of the retiring Issuing Lender with respect to such Letters of Credit, and upon issuance of such substitute letters of credit such substitute letters of credit shall be, and the substituted Letters of Credit shall cease to be, Letters of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Ameriprise Financial Inc), Credit Agreement (Ameriprise Financial Inc)

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Successor Swing Line Lender and Issuing Lender. Any resignation of the Administrative Agent pursuant to subsection 9.5A shall also constitute the resignation of Xxxxx Fargo or its successor as the Swing Line Lender and as, if applicable, an Issuing Lender, and any successor Administrative Agent appointed pursuant to subsection 9.5A shall, upon its acceptance of such appointment, become the successor Swing Line Lender and an Issuing Lender for all purposes hereunder. In such event (i) Company the Borrower shall prepay any outstanding Swing Line Loans made by the retiring Administrative Agent in its capacity as the Swing Line Lender, (ii) upon such prepayment, the retiring Administrative Agent and the Swing Line Lender shall surrender any Swing Line Note held by it to Company the Borrower for cancellation, and (iii) if so requested by the successor Administrative Agent and the Swing Line Lender in accordance with subsection 2.1E, Company the Borrower shall issue a Swing Line Note to the successor Administrative Agent and the Swing Line Lender substantially in the form of Exhibit V annexed heretoV, in the amount of the Swing Line Loan Commitment then in effect and with other appropriate insertions and (iv) such successor insertions. In addition, the Borrower shall cause a Issuing Lender shall to issue letters Letters of credit Credit in substitution for the Letters of Credit issued by the retiring Issuing LenderCredit, if any, issued by the Lender which is the resigning Administrative Agent and outstanding at the time of such succession or CHAR1\1732468v1CHAR1\1735441v5 make other arrangements satisfactory to the retiring Issuing such resigning Lender to effectively assume or collateralize the obligations of the retiring Issuing such resigning Lender with respect to such Letters of Credit, and upon issuance of such substitute letters of credit such substitute letters of credit shall be, and the substituted Letters of Credit shall cease to be, Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Mosaic Co)

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Successor Swing Line Lender and Issuing Lender. Any resignation of the Administrative Agent pursuant to subsection 9.5A shall also constitute the resignation of Xxxxx Fargo or its successor as the Swing Line Lender and as, if applicable, an Issuing Lender, and any successor Administrative Agent appointed pursuant to subsection 9.5A shall, upon its acceptance of such appointment, become the successor Swing Line Lender and an Issuing Lender for all purposes hereunder. In such event (i) Company the Borrower shall prepay any outstanding Swing Line Loans made by the retiring Administrative Agent in its capacity as the Swing Line Lender, (ii) upon such prepayment, the retiring Administrative Agent and the Swing Line Lender shall surrender any Swing Line Note held by it to Company the Borrower for cancellation, and (iii) if so requested by the successor Administrative Agent and the Swing Line Lender in accordance with subsection 2.1E, Company the Borrower shall issue a Swing Line Note to the successor Administrative Agent and the Swing Line Lender substantially in the form of Exhibit V annexed heretoV, in the amount of the Swing Line Loan Commitment then in effect and with other appropriate insertions and (iv) such successor insertions. In addition, the Borrower shall cause a Issuing Lender shall to issue letters Letters of credit Credit in substitution for the Letters of Credit issued by the retiring Issuing LenderCredit, if any, issued by the Lender which is the resigning Administrative Agent and outstanding at the time of such succession or make other arrangements satisfactory to the retiring Issuing such resigning Lender to effectively assume or collateralize the obligations of the retiring Issuing such resigning Lender with respect to such Letters of Credit, and upon issuance of such substitute letters of credit such substitute letters of credit shall be, and the substituted Letters of Credit shall cease to be, Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Mosaic Co)

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