Common use of Replacement of Administrative Agent Clause in Contracts

Replacement of Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Lenders, the LC Issuers and the Borrower. Upon any such resignation, the Required Lenders shall have the right, upon five Business Days’ notice to the Borrower, to appoint a successor Administrative Agent (who shall not be a non-resident of Canada within the meaning of the Income Tax Act), subject to the approval of the Borrower, such approval not to be unreasonably withheld. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation of the retiring Administrative Agent, then, upon five Business Days’ notice to the Borrower, the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent (subject to approval of the Borrower, such approval not to be unreasonably withheld), which shall be a financial institution having a combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof) or having a parent company with combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof).

Replacement of Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Lenders, the LC Issuers Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right, upon five Business Days’ notice to the Borrower, to appoint a successor Administrative Agent (who shall not be a non-resident of Canada within the meaning of the Income Tax Act), subject to the approval of the Borrower, such approval not to be unreasonably withheld. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation of the retiring Administrative Agent, then, upon five Business Days’ notice to the Borrower, the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent (subject to approval of the Borrower, such approval not to be unreasonably withheld), which shall be a financial institution having a combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof) U.S.$1,000,000,000 or having a parent company with combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof)U.S.$1,000,000,000.

Replacement of Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Lenders, the LC Issuers Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right, upon five Business Days’ notice to the Borrower, to appoint a successor Administrative Agent (who shall not be a non-resident of Canada within the meaning of the Income Tax Act), subject to the approval of the Borrower, such approval not to be unreasonably withheld. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation of the retiring Administrative Agent, then, upon five Business Days’ notice to the Borrower, the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent (subject to approval of the Borrower, such approval not to be unreasonably withheld), which shall be a financial institution organized under the laws of Canada having a combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof) U.S.$1,000,000,000 or having a parent company with combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof)U.S.$1,000,000,000.

Replacement of Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Lenders, the LC Issuers Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right, upon five Business Days’ notice to the Borrower, to appoint a successor Administrative Agent (who shall not be a non-resident of Canada within the meaning of the Income Tax Act), subject to the approval of the Borrower, such approval not to be unreasonably withheld. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation of the retiring Administrative Agent, then, upon five Business Days’ notice to the Borrower, the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent (subject to approval of the Borrower, such approval not to be unreasonably withheld), which shall be a financial institution having a combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof) U.S.$1,000,000,000 or having a parent company with combined capital and surplus of at least U.S. $1,000,000,000 (or the Equivalent Amount thereof).U.S.$1,000,000,000. Tahoe Resources Inc. - Credit Agreement