Common use of Lender Replacement Clause in Contracts

Lender Replacement. Pursuant to Section 3.07(b) of the Existing Credit Agreement, the Lender Replacement shall become effective immediately prior to the occurrence of the First Amendment Effective Date (as defined below), regardless of whether any Non-Consenting Lender has executed an Assignment and Assumption. The Administrative Agent and the Fronting Bank hereby agree that the processing and recordation fee described in Section 10.07(b)(ii)(B) of the Existing Credit Agreement is hereby waived with respect to the Lender Replacement.

Lender Replacement. Pursuant to Section 3.07(b) of the Existing Credit Agreement, the Lender Replacement shall become effective immediately prior to the occurrence of the First Second Amendment Effective Date (as defined below), regardless of whether any Non-Consenting Lender has executed an Assignment and Assumption. The Administrative Agent and the Fronting Bank hereby agree that the processing and recordation fee described in Section 10.07(b)(ii)(B) of the Existing Credit Agreement is hereby waived with respect to the Lender Replacement.