Common use of Replacement Administrative Agent Clause in Contracts

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan shall be the Administrative Agent, provided that at any time (i) neither Citi nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender or is a Lender that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d). Notwithstanding the foregoing, Xxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender that holds the Loan.

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan shall be the Administrative Agent, provided that at any time (i) neither Citi nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender or is a Lender that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d). Notwithstanding the foregoing, Xxxxxxxx Bxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, BMO or MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender that holds the Loan.. 197

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan Real Estate Funding Inc. shall be the initial Administrative Agent, provided that at any time (i) neither Citi Real Estate Funding Inc. nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, or (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender (of an affiliate thereof) or is a Lender (or an affiliate thereof) that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d10.24(c). Notwithstanding the foregoing, Xxxxxxxx Borrower acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or any such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender (or affiliate appointed thereby) that holds the Loan.

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan Real Estate Funding Inc. shall be the initial Administrative Agent, provided that at any time (i) neither Citi Real Estate Funding Inc. nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, or (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender (of an affiliate thereof) or is a Lender (or an affiliate thereof) that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d10.24(c). Notwithstanding the foregoing, Xxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or any such LenderXxxxxx, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender (or affiliate appointed thereby) that holds the Loan.

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan shall be the Administrative Agent, provided that at any time (i) neither Citi nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender or is a Lender that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d). Notwithstanding the foregoing, Xxxxxxxx Bxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender that holds the Loan.

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan shall be the Administrative Agent, provided that at any time (i) neither Citi nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender or is a Lender that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d). Notwithstanding the foregoing, Xxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender that holds the Loan.. 163

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan MSMCH shall be the initial Administrative Agent, provided that at any time (i) neither Citi MSMCH nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi MSMCH being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender (of an affiliate thereof) or is a Lender (or an affiliate thereof) that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d10.24(c). Notwithstanding the foregoing, Xxxxxxxx Borrower acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or any such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender (or affiliate appointed thereby) that holds the Loan.

Replacement Administrative Agent. Lenders hereby appoint Citi as the initial Administrative Agent. Prior to a Securitization of the whole Loan, there shall be an Administrative Agent for the Loan at all times when the Loan is held by more than one Lender. Citi or an affiliate thereof that owns a portion of the Loan shall be the Administrative Agent, provided that at any time (i) neither Citi nor any affiliate thereof owns a portion of the Loan, (ii) during the continuance of an Event of Default with respect to which Administrative Agent has provided written notice thereof to Borrower, (iii) Citi being replaced as Administrative Agent in accordance with the Lender Documents or (iv) following a default by the Administrative Agent of its obligations under this Agreement or any Lender Documents, the Administrative Agent may resign or be replaced with a single Lender that is either then the sole Lender or is a Lender that (A) has otherwise been designated as the replacement Administrative Agent under the Lender Documents and (B) except in the case of clause (ii) above, has been approved by Borrower in its reasonable discretion. Upon the appointment of any successor Administrative Agent hereunder, such successor Administrative Agent shall succeed to and become the Administrative Agent hereunder and any further resignation or replacement of any successor Administrative Agent shall be subject to the terms and conditions of this Section 17.22(d). Notwithstanding the foregoing, Xxxxxxxx Bxxxxxxx acknowledges and agrees that if the Loan is sold by Citi, UBS AG, BANA, BMO, BMO or MS or any other Lender such that the Loan is held by a single Lender, then automatically, and without any further action by Citi, UBS AG, BANA, BMO, MS or such Lender, all references to Administrative Agent hereunder shall be deemed to refer to such single Lender that holds the Loan.