Retiring Administrative Agent definition
Examples of Retiring Administrative Agent in a sentence
The Successor Administrative Agent shall have received UCC-1 and UCC-3 financing statements for each appropriate jurisdiction as is necessary, in the Successor Administrative Agent’s reasonable discretion, to perfect the Successor Administrative Agent’s security interest in the Collateral or to assign the security interest in the Collateral from the Retiring Administrative Agent to the Successor Administrative Agent.
This Amendment No. 4 shall have been duly executed by Borrowers, Required Lenders, the Retiring Administrative Agent and the New Administrative Agent.
Retiring Administrative Agent agrees to deliver to the New Administrative Agent, promptly after the Amendment No. 4 Effective Date, all promissory notes, stock certificates and other collateral in its possession, with all instruments of transfer or stock powers delivered in connection therewith, and until such time acknowledges that it is retaining control over such notes, stock certificates and other collateral on behalf of the New Administrative Agent.
Effective as of the Amendment No. 4 Effective Date, the Lenders hereby appoint SunTrust Bank as successor Administrative Agent under the Credit Agreement (the "New Administrative Agent") to Wachovia Bank, National Association (the "Retiring Administrative Agent"), and SunTrust Bank hereby accepts such appointment.
The Successor Administrative Agent shall have received from the Retiring Administrative Agent the certificates representing the Pledged Stock (as defined in the Security Agreement) each accompanied by an undated stock power executed in blank.
The Successor Administrative Agent shall have received evidence that all of the necessary amendments, assignments, filings and/or recordings have been made in connection with the transfer of the Assigned Interest by the Retiring Administrative Agent to the Successor Administrative Agent, that all necessary or appropriate UCC-3 statements of assignment and amendments to the Mortgages have been filed in connection with the Security Documents.
The Successor Administrative Agent shall have received evidence that the Retiring Administrative Agent has effectively resigned in accordance with the terms of the Existing Credit Agreement, which evidence shall be satisfactory to the Successor Administrative Agent in its sole discretion.
Pursuant to Section 12.9 of the Credit Agreement, as of the Amendment No. 4 Effective Date, the New Administrative Agent succeeds to and becomes vested with all rights, powers, privileges and duties of the Retiring Administrative Agent, and the Retiring Administrative Agent is discharged from its duties and obligations under the Credit Agreement.
The Successor Administrative Agent shall have received from the Retiring Administrative Agent a copy of the Register reflecting the names of the Lenders, their Commitments and the outstanding amount of all Obligations.
Title: CITIZENS BANK, N.A., as a Lender By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Title: Senior Vice President MUFG UNION BANK, N.A. as Retiring Administrative Agent By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇ Title: Authorized Signatory The undersigned has caused this Amendment to be duly executed as of the date and year first above written for the sole purpose of Section 6(e) hereof.