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

Termination or Assignment of Commitments Under Certain Circumstances. (a) If any Bank (or Transferee) or the Administrative Agent claims any additional amounts payable pursuant to Section 2.13 or Section 2.19 or exercises its rights under Section 2.14, it shall (consistent with legal and regulatory restrictions) (i) promptly notify the Borrower (through the Administrative Agent) 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 change the jurisdiction of its applicable Lending Office 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 such Bank (or Transferee), be otherwise disadvantageous to such Bank (or Transferee).

Appears in 4 contracts

Samples: Credit Agreement (Microchip Technology Inc), Credit Agreement (Knight Transportation Inc), Credit Agreement (Evans Withycombe Residential Inc)

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