Common use of Change of Lending Office; Limitation on Indemnities Clause in Contracts

Change of Lending Office; Limitation on Indemnities. (i) The Lenders agree that, upon the occurrence of any event giving rise to the operation of Section 3.04(b)(i)(B) or Section 3.04(b)(i)(C) (Increased Costs, Illegality, etc.) or Section 3.06 (Net Payments; Taxes) with respect to any Lender, it shall, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event; provided that such designation is made on such terms that such Lender and its lending office suffer no material economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to the operation of any such Section. Nothing in this Section 3.04(d) shall affect or postpone any of the obligations of the Borrower or the right of such Lender provided in Section 3.04(b) (Increased Costs, Illegality, etc.) or Section 3.06 (Net Payments; Taxes).

Appears in 8 contracts

Samples: Credit Agreement (FS Global Credit Opportunities Fund), Credit Agreement (FS Global Credit Opportunities Fund-D), Credit Agreement (American Capital, LTD)

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Change of Lending Office; Limitation on Indemnities. (ia) The Lenders agree Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 3.04(b)(i)(B3.4.4(a)(ii) or Section 3.04(b)(i)(C) (Increased Costsiii), Illegality, etc.3.4.4(c) or Section 3.06 (Net Payments; Taxes) 3.6 with respect to any such Lender, it shall, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event; provided provided, that such designation is made on such terms that such Lender and its lending office suffer no material economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to the operation of any such Section; and provided, further, that such designation shall be made only if it would otherwise be permitted as a participation under Section 9.4. Nothing in this Section 3.04(d) 3.4.6 shall affect or postpone any of the obligations of the Borrower or the right of such any Lender provided in Section 3.04(b) (Increased Costs, Illegality, etc3.4.4 or 3.6.) or Section 3.06 (Net Payments; Taxes).

Appears in 4 contracts

Samples: Credit Agreement (Special Value Continuation Partners, LP), Credit Agreement (Special Value Expansion Fund, LLC), Credit Agreement (Special Value Continuation Partners, LP)

Change of Lending Office; Limitation on Indemnities. (ia) The Lenders agree Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 3.04(b)(i)(Bsubsection 3.4.4(a)(ii) or Section 3.04(b)(i)(C) (Increased Costsiii), Illegality, etc.3.4.4(c) or Section 3.06 (Net Payments; Taxes) 3.6 with respect to any such Lender, it shall, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event; provided provided, that such designation is made on such terms that such Lender and its lending office suffer no material economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to the operation of any such Section; and provided, further, that such designation shall be made only if it would otherwise be permitted as a participation under Section 9.4. Nothing in this Section 3.04(d) 3.4.6 shall affect or postpone any of the obligations of the Borrower or the right of such any Lender provided in Section 3.04(b) (Increased Costs, Illegality, etc3.4.4 or 3.6.) or Section 3.06 (Net Payments; Taxes).

Appears in 1 contract

Samples: Credit Agreement (Tennenbaum Opportunities Partners V, LP)

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Change of Lending Office; Limitation on Indemnities. (i) The Lenders agree Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 3.04(b)(i)(B) or Section 3.04(b)(i)(C) (Increased Costs, Illegality, etc.) or Section 3.06 (Net Payments; Taxes) with respect to any the Lender, it shall, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such the Lender) to designate another lending office for any Loans affected by such event; provided that such designation is made on such terms that such the Lender and its lending office suffer no material economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to the operation of any such Section. Nothing in this Section 3.04(d) shall affect or postpone any of the obligations of the Borrower or the right of such the Lender provided in Section 3.04(b) (Increased Costs, Illegality, etc.) or Section 3.06 (Net Payments; Taxes).

Appears in 1 contract

Samples: Credit Agreement (FS Investment CORP)

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