Common use of Conversion to Registered Form Clause in Contracts

Conversion to Registered Form. At the request of Administrative Agent on behalf of any Lender and at no cost, expense or increased liability to Borrower, Borrower shall appoint, as its agent, a registrar and transfer agent (the “Registrar”) reasonably acceptable to Administrative Agent which shall maintain, subject to such reasonable regulations as it shall provide, such books and records as are necessary for the registration and transfer of the applicable Note in a manner that shall cause the applicable Note to be considered to be in registered form for purposes of Section 163(f) of the IRS Code. The option to convert the applicable Note into registered form once exercised may not be revoked. Any agreement setting out the rights and obligation of the Registrar shall be subject to the reasonable approval of Administrative Agent, for the benefit of such Lender. Borrower may revoke the appointment of any particular person as Registrar, effective upon the effectiveness of the appointment of a replacement Registrar. The Registrar shall not be entitled to any fee from Borrower or Lender or any other lender in respect of transfers of the applicable Note and any other Loan Documents.

Conversion to Registered Form. At the request of Administrative Agent on behalf of any Lender and at no cost, expense or increased liability to BorrowerParty, Borrower shall appoint, as its agent, a registrar and transfer agent (the “Registrar”) reasonably acceptable to Administrative Agent which shall maintain, subject to such reasonable regulations as it shall provide, such books and records as are necessary for the registration and transfer of the applicable Syndication Note in a manner that shall cause the applicable Syndication Note to be considered to be in registered form for purposes of Section 163(f) of the IRS Code. The option to convert the applicable Syndication Note into registered form once exercised may not be revoked. Any agreement setting out the rights and obligation of the Registrar shall be subject to the reasonable approval of Administrative Agent, for the benefit of such LenderLender Party. Borrower may revoke the appointment of any particular person as Registrar, effective upon the effectiveness of the appointment of a replacement Registrar. The Registrar shall not be entitled to any fee from Borrower or Lender Party or any other lender in respect of transfers of the applicable Syndication Note and any other Loan Documents.