Replaced Bank definition
Examples of Replaced Bank in a sentence
The provisions of this Agreement shall continue to govern the rights and obligations of a Replaced Bank with respect to any Loans made or any other actions taken by such Bank while it was a Bank.
Upon the execution of the respective Assignment and Assumption Agreements, the payment of amounts referred to in clauses (i) and (ii) above and, if so requested by the Replacement Bank, delivery to the Replacement Bank of the appropriate Note or Notes executed by the Borrower, the Replacement Bank shall become a Bank hereunder and the Replaced Bank shall cease to constitute a Bank hereunder.
Upon the execution of the respective assignment documentation, the payment of amounts referred to in clauses (i) and (ii) above and, if so requested by the Replacement Bank, delivery to the Replacement Bank of the appropriate Note executed by the Borrower, the Replacement Bank shall become a Bank hereunder and the Replaced Bank shall cease to constitute a Bank hereunder, except with respect to indemnification provisions under this Agreement, which shall survive as to such Replaced Bank.
The Borrower shall pay to such Replaced Bank in same day funds on the date of replacement all interest, fees and other amounts then due and owing such Replaced Bank by the Borrower hereunder to and including the date of replacement, including, without limitation, costs incurred under Sections 4.01, 4.02 and/or 4.03.
A Replaced Bank shall not be required to make any assignment or delegation under Section 3.9 if, prior to such assignment or delegation, the Replaced Bank (a) waives its request under Section 3.2(a) for Capital Adequacy Shortfall Payment from the Borrower or (b) cures the default causing such Replaced Bank to be a Defaulting Bank within five (5) Business Days following receipt of timely notice by the Borrower of the Borrower’s intent to replace the Replaced Bank in accordance with Section 3.9 hereof.