Common use of Appointment of Successor Clause in Contracts

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 12 contracts

Samples: Credit Agreement (TNS Inc), Credit Agreement (Playtex Products Inc), Credit Agreement (Playtex Products Inc)

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Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to BorrowerBorrower Representative, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 9 contracts

Samples: Credit Agreement (Penhall International Corp), Credit Agreement (Vertis Inc), Credit Agreement (Osullivan Industries Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable subject to Borrower's approval (which shall not be unreasonably withheld or delayed). If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 6 contracts

Samples: Credit Agreement (RadNet, Inc.), Credit Agreement (RadNet, Inc.), Credit Agreement (Primedex Health Systems Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i1) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 6 contracts

Samples: Credit Agreement (Portola Packaging Inc), Credit Agreement (Portola Packaging Inc), Credit Agreement (Team Communications Group Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (iG)(1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 5 contracts

Samples: Loan and Security Agreement (Beacon Roofing Supply Inc), Loan and Security Agreement (Beacon Roofing Supply Inc), Loan and Security Agreement (Banctec Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (isubsection 9.1(G)(1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowing Agent. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to BorrowerBorrowing Agent, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 2 contracts

Samples: Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Shoes & Boots Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (ia) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default by Borrowers or Guarantor has occurred and is continuingcontinuing under the Loan Documents, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (ia) above, the retiring Agent, upon written notice to BorrowerBorrowers, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above. A successor Agent shall be either a Lender or a commercial entity with assets of at least $5 billion and with demonstrated experience in performing the duties of an agent under similar loan agreements.

Appears in 2 contracts

Samples: Loan Agreement (Omega Healthcare Investors Inc), Loan Agreement (Omega Healthcare Investors Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to BorrowerBorrower Representative, shall then appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrowers and who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 2 contracts

Samples: Credit Agreement (Golfsmith International Holdings Inc), Credit Agreement (Golfsmith International Holdings Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default by Borrowers or Guarantor has occurred and is continuingcontinuing under the Loan Documents, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon written notice to BorrowerBorrowers, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above. A successor Agent shall be either a Lender or a commercial entity with assets of at least $5 billion and with demonstrated experience in performing the duties of an agent under similar loan agreements.

Appears in 1 contract

Samples: Loan Agreement (Brookdale Senior Living Inc.)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (ia) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (ia) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan Agreement (Alterra Healthcare Corp)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (ia) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (ia) above, the retiring Agent, upon notice to BorrowerBorrowers, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan Agreement (Assisted Living Concepts Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (ia) above, Requisite Lenders the Required Holders shall appoint a successor Agent agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrowerthe Company. If a successor Agent agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (ia) above, the retiring Agentagent, upon notice to Borrowerthe Company, shall then appoint a successor Agent agent who shall serve as Agent agent until such time, if any, as Requisite Lenders the Required Holders appoint a successor Agent agent as provided above.

Appears in 1 contract

Samples: Purchase Agreement (Terremark Worldwide Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i1) above, Requisite Lenders shall, upon receipt of Borrower's prior consent which shall not be unreasonably withheld, appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerAgent. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period period, referred to in clause (i1) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.Lenders, upon receipt of Borrower's

Appears in 1 contract

Samples: Credit Agreement (Acorn Products Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to BorrowerBorrower Representative, shall then Annex A Page 87 appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Credit Agreement (Aas Capital Corp)

Appointment of Successor. Upon any such notice of resignation ------------------------ pursuant to clause (ia) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (ia) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan Agreement (Assisted Living Concepts Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (isubsection 9.1(G)(1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan and Security Agreement (Pizza Inn Holdings, Inc /Mo/)

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Appointment of Successor. Upon any such notice of resignation ------------------------ pursuant to clause (iG)(1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan and Security Agreement (Banctec Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent which, . unless an Event of Default has occurred and is continuing, shall be reasonably acceptable subject to Borrower’s approval (which shall not be unreasonably withheld or delayed). If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) i above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Bridge Loan Credit Agreement (First Look Studios Inc)

Appointment of Successor. Upon any such notice of resignation or removal pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent to serve as Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Credit Agreement (TNS Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i1) above, Requisite Lender if there is only one Lender or that portion or number of Lenders as may from time to time be specified in any Lender Addition Agreement if there is more than one Lender shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerAgent. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period period, referred to in clause (i1) above, the retiring Agent, upon notice to Borrower, Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite such Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan Agreement (Nassau Broadcasting Corp)

Appointment of Successor. Upon any such applicable notice of resignation pursuant to clause (i) above, Requisite Lenders shall appoint a successor Agent Agent, which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, Agent upon notice to BorrowerBorrower Representative, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent in the manner as provided above.

Appears in 1 contract

Samples: Credit Agreement (Green Plains Inc.)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (i--------------------------- Section 9.1(g)(1) above, Requisite Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to BorrowerBorrowers, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan and Security Agreement (Harborside Healthcare Corp)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (iG)(1) above, Requisite Lenders shall appoint a successor Agent (which successor Agent shall also be a Lender) which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) said 30 Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to BorrowerBorrowers, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Loan Agreement (Recoton Corp)

Appointment of Successor. Upon any such applicable notice of resignation pursuant to clause (i) above, Requisite Required Lenders shall appoint a successor Agent Agent, which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, Agent upon notice to BorrowerBorrowers’ Agent, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Required Lenders appoint a successor Agent in the manner as provided above.

Appears in 1 contract

Samples: Credit Agreement (Sunlink Health Systems Inc)

Appointment of Successor. Upon any such applicable notice of resignation pursuant to clause (i) above, Requisite Required Lenders shall appoint a successor Agent Agent, which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to BorrowerBorrowers’ Agent. If a successor Agent shall not have been so appointed within the thirty (30) Business Day period referred to in clause (i) above, the retiring Agent, Agent upon notice to BorrowerBorrowers’ Agent, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Required Lenders appoint a successor Agent in the manner as provided above.

Appears in 1 contract

Samples: Credit Agreement (Sunlink Health Systems Inc)

Appointment of Successor. Upon any such notice of resignation pursuant to clause (iSection 8A.5(G)(1) above, Requisite Required Lenders shall appoint a successor Agent which, unless an Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. If a successor Agent shall not have been so appointed within the said thirty (30) Business Day period referred to in clause (i) aboveperiod, the retiring Agent, upon notice to Borrower, shall then appoint a successor Agent who shall serve as Agent until such time, if any, as Requisite Required Lenders appoint a successor Agent as provided above.

Appears in 1 contract

Samples: Security Agreement (Cardlytics, Inc.)

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