Common use of Mitigation of Obligations Clause in Contracts

Mitigation of Obligations. If any Lender requests compensation under Section 3.2 or if any Borrower is required to pay any additional amount to any Lender or any governmental authority for the account of any Lender pursuant to Section 3.1, then such Lender shall use commercially reasonable efforts to designate a different Lending Installation for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 or Section 3.2, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 7 contracts

Samples: Credit Agreement (Acuity Brands Inc), Revolving Credit Agreement (Zep Inc.), Credit Agreement (Acuity Brands Inc)

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Mitigation of Obligations. If any Lender requests compensation under Section 3.2 4.11, or if any Borrower is required to pay any additional amount to any Lender or any governmental authority Governmental Authority for the account of any Lender pursuant to Section 3.14.13, then such Lender shall use commercially reasonable efforts to designate a different Applicable Lending Installation Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 4.11 or Section 3.24.13, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby jointly and severally agree to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Macquarie Infrastructure CO LLC), Revolving Credit Agreement (Macquarie Infrastructure CO LLC)

Mitigation of Obligations. If any Lender requests compensation under Section 3.2 or if any Borrower is required to pay any additional amount to any Lender or any governmental authority for the account of any Lender pursuant to Section 3.1, then such Lender shall use commercially reasonable efforts to designate a different Lending Installation for funding or booking its Revolving Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 or Section 3.2, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 2 contracts

Samples: Day Revolving Credit Agreement (Acuity Brands Inc), Assignment Agreement (Acuity Brands Inc)

Mitigation of Obligations. If any Lender requests compensation under Section 3.2 2.9, or if any Borrower is required to pay any additional amount to any Lender or any governmental authority Governmental Authority for the account of any Lender pursuant to Section 3.12.11, then such Lender shall use commercially reasonable efforts to designate a different Lending Installation lending office for funding or booking its Loans portion of the Loan hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 2.9 or Section 3.22.11, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers Borrower hereby agree agrees to pay all reasonable costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 1 contract

Samples: Term Loan Agreement (Hines Global Reit Ii, Inc.)

Mitigation of Obligations. If any Lender requests compensation under Section 3.2 3.1, or if any requires Borrower is required to pay any Indemnified Taxes or additional amount amounts to any Lender or any governmental authority Governmental Authority for the account of any Lender pursuant to Section 3.13.2, then such Lender shall (at the request of Borrower) use commercially reasonable efforts to designate a different Lending Installation lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under pursuant to Section 3.1 or Section 3.2, as the case may be, in the future future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers Borrower hereby agree agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

Appears in 1 contract

Samples: Credit Agreement (Victory Energy Corp)

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Mitigation of Obligations. If any Lender requests compensation under Section 3.2 or if any Borrower is required to pay any additional amount to any Lender or any governmental authority for the account of any Lender pursuant to Section 3.13.1 or Section 3.5, then such Lender shall use commercially reasonable efforts to designate a different Lending Installation for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole reasonable discretion of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 3.1, Section 3.2 or Section 3.23.5, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 1 contract

Samples: Credit Agreement (Acuity Brands Inc)

Mitigation of Obligations. (a) If any Lender requests compensation under Section 3.2 3.04, or if any the Borrower is required to pay any additional amount to any Lender or any governmental authority Governmental Authority for the account of any Lender pursuant to Section 3.13.01, then such Lender shall use commercially reasonable efforts to designate a different Lending Installation lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 3.04 or Section 3.23.01, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers Borrower hereby agree agrees to pay all reasonable costs and expenses incurred by any Lender in connection with such designation or assignment.. 52

Appears in 1 contract

Samples: Credit Agreement (Ndchealth Corp)

Mitigation of Obligations. If any Lender requests compensation under Section 3.2 4.3, or if any Borrower Loan Party is required to pay any additional amount to any Lender or any governmental authority Governmental Authority for the account of any Lender pursuant to Section 3.14.4, then such Lender shall use commercially reasonable efforts to designate a different Applicable Lending Installation Office for funding or booking its Loans hereunder Bonds or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole discretion judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 3.1 4.3 or Section 3.24.4, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby Loan Parties jointly and severally agree to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

Appears in 1 contract

Samples: Guaranty and Credit Agreement (Macquarie Infrastructure CO LLC)

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