Common use of Termination or Assignment of Commitments Under Certain Circumstances Clause in Contracts

Termination or Assignment of Commitments Under Certain Circumstances. (a) If the Lender claims any additional amounts payable pursuant to Section 2.13 or Section 2.17 or exercises its rights under Section 2.14, it shall (consistent with legal and regulatory restrictions) (i) promptly notify the Borrower of the circumstances giving rise to such additional amounts or the exercise of such rights and (ii) file any certificate or document requested by the Borrower or take any other action if the making of such a filing or change or the taking of such action would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue or avoid the circumstances giving rise to such exercise and would not, in the sole determination of the Lender (or Transferee), be otherwise disadvantageous to the Lender (or Transferee). (b) The Lender represents and warrants to the Borrower that as of the date hereof it is not aware of any claims available to it under Section 2.13, 2.14 or 2.17 or any circumstances which it has determined will enable it to make any such claims.

Appears in 2 contracts

Samples: Credit Agreement (Knight Transportation Inc), Credit Agreement (Knight Transportation Inc)

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