Retiring Bank definition
Examples of Retiring Bank in a sentence
The Retiring Bank shall not be Bank hereunder and the Borrowers hereby agree to pay on the Closing Date any amounts due to the Retiring Bank under the Existing Credit Agreement.
Upon the Company’s selection of a bank to replace a Retiring Bank, such bank’s agreement thereto and the fulfillment of the conditions to assignment and assumption set forth in Section 9.08, such bank shall become a Bank hereunder for all purposes in accordance with Section 9.08.
Upon the Borrower's selection of a bank to replace a Retiring Bank, such bank's agreement thereto and the fulfillment of the conditions to assignment and assumption set forth in Section 9.08(c)(iii) such bank shall become a Bank hereunder for all purposes in accordance with Section 9.08(c)(iii).
Each Retiring Bank shall, as of the Restatement Effective Date, cease to be a “Bank” under (and, accordingly, shall cease to be a party to) the Existing LC Agreement, and the Account Parties hereby confirm and agree that, as of the Restatement Effective Date, the Retiring Banks shall have no obligations or liabilities under the Fourth Amended and Restated Credit Agreement.
On the Replacement Date, each Replacement Bank that is a New Bank shall become a Bank and the Retiring Bank shall cease to be a Bank; provided that this Agreement shall continue to govern the rights and obligations of a Retiring Bank with respect to any Loans made or any other actions taken by such Retiring Bank while it was a Bank.
Each Retiring Bank shall, as of the Closing Date, cease to be a "Lender" under (and, accordingly, shall cease to be a party to) the Existing Credit Agreement, and the Borrower hereby confirms and agrees that, as of the Closing Date, the Retiring Banks shall have no obligations or liabilities under this Agreement; provided, that the Retiring Lenders shall be entitled to the benefits of Section 10.5.
In lieu of the foregoing, upon the express written consent of Continuing Banks who are the holders of at least sixty-six and two-thirds percent (662/3%) of that portion of the outstanding principal of the Loan held by Continuing Banks, the Obligors shall have the right to terminate the Commitment of a Retiring Bank in full.
Each Retiring Bank shall, as of the Restatement Effective Date, cease to be a “Bank” under (and, accordingly, shall cease to be a party to) the Existing Credit Agreement, and the Company hereby confirms and agrees that, as of the Restatement Effective Date, the Retiring Banks shall have no obligations or liabilities under the First Amended and Restated Credit Agreement.
In lieu of the foregoing, upon the express written consent of Continuing Banks who are the holders of at least sixty-six and two-thirds percent (66 2/3%) of that portion of the outstanding principal of the Loans held by Continuing Banks, the Obligors shall have the right to terminate the commitments of a Retiring Bank hereunder in full.
If any Eurodollar Loan of a Retiring Bank is paid on any day other than the last day of the Loan Period for that Loan occurring within the time period provided in Paragraph (b) below, the Company shall pay the Retiring Bank’s funding losses as provided in Section 8.5.