Terms Related to Replacement Clause Samples
The "Terms Related to Replacement" clause defines the rules and procedures for substituting goods, services, or personnel under a contract. It typically outlines the conditions under which replacements are permitted or required, such as when an item is defective or a staff member is unavailable, and may specify timelines, notification requirements, and standards for acceptable substitutes. This clause ensures that the contract can continue smoothly despite unforeseen issues, minimizing disruption and clarifying the parties' responsibilities in managing replacements.
Terms Related to Replacement. The parties hereto agree that (i) the Interest Periods applicable to the outstanding Revolving Credit Loans, Initial Term Loans and Initial Term C Loans as of the Second Amendment Effective Date shall not be affected by this Second Amendment and (ii) the Borrower is exercising its rights under Section 13.7 of the Credit Agreement in connection with this Second Amendment to require any Second Amendment Non-Consenting Lender to assign all of its interests, rights and obligations under the Credit Documents to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all such Initial Term Loans and Initial Term C Loans of each such Second Amendment Non-Consenting Lender to the identified assignees, which transfers shall be effected in accordance with Section 13.6(b) of the Credit Agreement and shall be effective as of the Second Amendment Effective Date, and each assignee acquiring Initial Term Loans and/or Initial Term C Loans in connection with such transfers shall have provided a signature page to this Second Amendment consenting hereto with respect to such acquired Initial Term Loans and/or Initial Term C Loans, as applicable.
Terms Related to Replacement. The parties hereto agree that the Borrowers are exercising their rights under Section 9.02(c) of the Credit Agreement in connection with this Amendment to require any Non-Consenting Term Lender to assign all of its interests, rights and obligations under the Loan Documents, and pursuant to the Master Assignment, each Non-Consenting Term Lender shall sell and assign the principal amount of its existing Initial Term Loans as set forth in Schedule I to the Master Assignment, as such Schedule is completed by the Administrative Agent on or prior to the Amendment No. 7 Effective Date, to the Replacement Lender, as assignee under such Master Assignment solely upon the consent and acceptance by the Replacement Lender and each Non-Consenting Term Lender shall be deemed to have executed a counterpart to such Master Assignment to give effect to such consent by such Non-Consenting Term Lender; provided that an assignment shall be effective on the Amendment No. 7 Effective Date notwithstanding any failure by a Non-Consenting T▇▇▇ ▇▇▇▇▇▇ to deliver an executed Master Assignment. The Replacement Lender shall be deemed to have consented to this Amendment with respect to such purchased Term Loans, at the time of such assignment.
Terms Related to Replacement. The parties hereto agree that (i) the Interest Periods applicable to the outstanding 2016 Incremental Term Loans as of the Fourth Amendment Effective Date shall not be affected by this Fourth Amendment and (ii) the Borrower is exercising its rights under Section 13.7 of the Credit Agreement in connection with this Fourth Amendment to require any Fourth Amendment Non-Consenting Lender to assign all of its interests, rights and obligations under the Credit Documents to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all such 2016 Incremental Term Loans of each such Fourth Amendment Non-Consenting Lender to the identified assignees, which transfers shall be effected in accordance with Section 13.6(b) of the Credit Agreement and shall be effective as of the Fourth Amendment Effective Date, and each assignee acquiring 2016 Incremental Term Loans in connection with such transfers shall have provided a signature page to this Fourth Amendment consenting hereto with respect to such acquired 2016 Incremental Term Loans.
Terms Related to Replacement. The parties hereto agree that (i) the Interest Periods applicable to the outstanding Initial Term Loans as of the First Amendment Effective Date shall not be affected by this First Amendment and (ii) the Parent Borrower is exercising its rights under Sections 3.03 and 10.12(f) of the Credit Agreement in connection with this First Amendment to require any First Amendment Non-Consenting Lender to assign all of its interests, rights and obligations under the Loan Documents to one or more assignees identified by the Parent Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all such Initial Term Loans of each such First Amendment Non-Consenting Lender to the identified assignees, which transfers shall be effected in accordance with Sections 10.06 and 10.12(f) of the Credit Agreement and shall be effective as of the First Amendment Effective Date, and each assignee acquiring Initial Term Loans in connection with such transfers shall have provided a signature page to this First Amendment consenting hereto with respect to such acquired Initial Term Loans.
Terms Related to Replacement. The parties hereto agree that the Borrower is exercising its rights under Section 9.02(c) of the Credit Agreement in connection with this Amendment to require any 2018 Repricing Non-Consenting Lender to assign all of its interests, rights and obligations under the Loan Documents to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all such Initial Term Loans of each such 2018 Repricing Non-Consenting Lender to the identified assignees, which transfers shall be effective as of the Fall 2018 Amendment Effective Date, and each assignee acquiring such Initial Term Loans in connection with such transfers shall have provided a signature page to this Amendment consenting hereto with respect to such acquired Initial Term Loans.
Terms Related to Replacement. The parties hereto agree that (i) the Interest Periods applicable to the outstanding 2018 Incremental Term Loans as of the Seventeenth Amendment Effective Date shall not be affected by this Seventeenth Amendment and (ii) the Borrower is exercising its rights under Section 13.7 of the Credit Agreement in connection with this Seventeenth Amendment to require that each Seventeenth Amendment Non-Consenting 2018 Incremental Term Loan Lender assign all of its interests, rights and obligations under the Credit Documents to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all 2018 Incremental Term Loans of each such Seventeenth Amendment Non-Consenting 2018 Incremental Term Loan Lender to the identified assignees, which transfers shall be effected in accordance with Sections 13.6 and 13.7(b) of the Credit Agreement (subject to Section C.12 of this Seventeenth Amendment) and shall be effective as of the Seventeenth Amendment Effective Date, and each assignee acquiring 2018 Incremental Term Loans in connection with such transfers shall have provided a signature page to this Seventeenth Amendment consenting hereto with respect to such acquired 2018 Incremental Term Loans.
Terms Related to Replacement. The parties hereto agree that the Borrowers are exercising their rights under Section 9.02(c) of the Credit Agreement in connection with this Amendment to require any Non-Consenting Term Lender to assign all of its interests, rights and obligations under the Loan Documents, and pursuant to the Master Assignment, each Non-Consenting Term Lender shall sell and assign the principal amount of its existing Initial Term Loans as set forth in Schedule I to the Master Assignment, as such Schedule is completed by the Administrative Agent on or prior to the 2018 Amendment Effective Date, to the Replacement Lender, as assignee under such Master Assignment, solely upon the consent and acceptance by the Replacement Lender and each Non-Consenting Term Lender shall be deemed to have executed a counterpart to such Master Assignment to give effect to such consent by such Non-Consenting Term Lender. The Replacement Lender shall be deemed to have consented to this Amendment with respect to such purchased Term Loans at the time of such assignment.
Terms Related to Replacement. The parties hereto agree that (i) the Interest Periods applicable to the outstanding Revolving Credit Loans, Initial Term Loans and Initial Term C Loans as of the Fifth Amendment Effective Date shall not be affected by this Fifth Amendment and (ii) the Borrower is exercising its rights under Section 13.7 of the Credit Agreement in connection with this Fifth Amendment to require any Fifth Amendment Non-Consenting Lender to assign all of its interests, rights and obligations under the Credit Documents to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate the transfer of all such Initial Term Loans and Initial Term C Loans of each such Fifth Amendment Non-Consenting Lender to the identified assignees, which transfers shall be effected in accordance with Section
Terms Related to Replacement. The parties hereto agree that the Borrower is exercising its rights under Section 2.22 of the Credit Agreement in connection with this Second Amendment to require that each Second Amendment Non-Consenting Lender assign all of its interests, rights and obligations under the Loan Documents to one or more Eligible Assignees (the “Second Amendment Assignees”) identified by the Borrower and the Administrative Agent on a list approved by the Borrower on or prior to Second Amendment Effective Date, and the Administrative Agent shall coordinate the transfer of all Revolving Credit Commitments (and related Revolving Credit Exposure) of each such Second Amendment Non-Consenting Lender to the Second Amendment Assignees, which transfers shall be effected in accordance with Section 9.04 of the Credit Agreement (subject to Section 6 of this Second Amendment) and shall be effective contemporaneously with the occurrence of the Second Amendment Effective Date. This Second Amendment shall constitute written notice from the Borrower to the Administrative Agent and each Second Amendment Non-Consenting Lender of its election to cause such Second Amendment Non-Consenting Lender (and such Second Amendment Non-Consenting Lender irrevocably agrees) to assign its outstanding Revolving Credit Commitments (and related Revolving Credit Exposure), if any, in full to one or more Second Amendment Assignees in accordance with Section 2.22 and 9.04 of the Credit Agreement.