Common use of Reference Lenders Clause in Contracts

Reference Lenders. If any Reference Lender’s Commitment shall terminate (otherwise than on termination of all the Commitments) or, as the case may be, the Loans made by it hereunder are assigned, or prepaid or repaid (otherwise than on the prepayment or repayment of the Loans among the Lenders) for any reason whatsoever, such Reference Lender shall thereupon cease to be a Reference Lender, and if, as a result of the foregoing, there shall be no Reference Lender of a particular category remaining, then the Lenders (after approval by the Borrower) shall, as soon as practicable thereafter, by notice to the Borrower, designate another Lender that is willing to act as a Reference Lender so that there shall at all times be at least one Reference Lender of each category.