Common use of Replacement of Banks Clause in Contracts

Replacement of Banks. If any Bank requests compensation under Section 2.10(f), 2.14 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if any Bank defaults in its obligation to fund Advances hereunder, then the Company may, at its sole expense and effort, upon notice to such Bank and the Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.10), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 or 2.16, such assignment will result in a reduction in such compensation. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply.

Appears in 3 contracts

Samples: Credit Agreement (Group Maintenance America Corp), Credit Agreement (Group Maintenance America Corp), Credit Agreement (Group Maintenance America Corp)

AutoNDA by SimpleDocs

Replacement of Banks. If (a) any Bank requests compensation under Section 2.10(f2.9 (Increased Costs) or asserts, pursuant to Section 2.9(e) that it is unlawful for such Bank to make Loans the interest on which is determined by reference to the Eurodollar Rate, (b) the Borrower is required to pay any additional amount to any Bank or any Governmental Authority for the account of any Bank pursuant to Section 2.11 (Taxes), 2.14 or 2.16 or if (c) any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Formsa Defaulting Bank, or if (d) with respect of any Bank defaults in its obligation that does not approve any amendment or waiver of any provision of any Loan Document that requires the unanimous consent of all of the Banks pursuant to fund Advances hereunderSection 11.1 (Amendments; Waivers, Etc.), if such amendment or waiver is agreed to by the Required Banks, then the Company Borrower may, at its sole expense and effortexpense, upon prior notice to such Bank and the Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1011.14 (Sale and Assignment)), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) to the Company extent required under Section 11.14 (Sale and Assignment), the Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f2.9 (Increased Costs) or payments required to be made pursuant to Section 2.11 (Taxes), 2.14 or 2.16, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 2 contracts

Samples: Credit Agreement (Southern Union Co), Credit Agreement (Panhandle Eastern Pipe Line Co Lp)

Replacement of Banks. If any Bank asserts illegality under Section 5.03 or requests compensation under Section 2.10(f)5.01, 2.14 or 2.16 or if the Company is required to pay any additional amount to any Bank notifies or any Governmental Authority for the Company that it cannot fund certain Loans or is unable account of any Bank pursuant to deliver the Prescribed FormsSection 4.06, or if any Bank defaults in its obligation to fund Advances Loans hereunder, then the Company may, at its sole expense and effort, upon notice to such Bank and the Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1012.06), all its interests, rights and obligations under this Agreement to an assignee assignee(s) that shall assume such obligations (which assignee assignee(s) may be another Bank, if a such Bank accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such assigning Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts), (ii) no Default shall have occurred and be continuing at such time, and (iii) in the case of any Agent shall have consented to such assignment resulting from a claim for compensation under Section 2.10(fassignee(s), 2.14 or 2.16, such assignment will result in a reduction in such compensation. A Bank shall consent not to be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to applyunreasonably withheld.

Appears in 2 contracts

Samples: Credit Agreement (Newfield Exploration Co /De/), Credit Agreement (Newfield Exploration Co /De/)

Replacement of Banks. If (a) any Bank requests compensation under Section 2.10(f2.9 (Increased Costs) or asserts, pursuant to Section 2.9(d) that it is unlawful for such Bank to make Eurodollar Rate Loans, (b) the Borrower is required to pay any additional amount to any Bank or any Governmental Authority for the account of any Bank pursuant to Section 2.11 (Taxes), 2.14 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if (c) any Bank defaults in its obligation to fund Advances Loans hereunder, or (d) with respect to any Bank that does not approve any amendment or waiver of any provision of any Loan Document that requires the unanimous consent of all of the Banks pursuant to Section 12.1 (Amendments; Waivers, Etc.), if such amendment or waiver is agreed to by the Required Banks, then the Company Borrower may, at its sole expense and effortexpense, upon prior notice to such Bank and the Administrative Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1012.14 (Sale and Assignment)), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) to the Company extent required under Section 12.14 (Sale and Assignment), the Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f2.9 (Increased Costs) or payments required to be made pursuant to Section 2.11 (Taxes), 2.14 or 2.16, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 2 contracts

Samples: Credit Agreement (Southern Union Co), Credit Agreement (Panhandle Eastern Pipe Line Co Lp)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f)Sections 2.8, 2.14 3.3 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms4.6, or if any Bank defaults in its obligation to fund Advances Loans hereunder, or otherwise has given notice pursuant to Sections 3.2, 3.4 or 3.5 (unless in each case the basis for such request or notice is generally applicable to all Banks), then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the AgentAgent within 90 days of such request or notice, if no Default or Event of Default exists, require such Bank to assign and delegate, without recourse delegate (in accordance with and subject to the restrictions contained in Section 11.1013.10), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f)Sections 2.8, 2.14 3.3 or 2.164.6, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Mens Wearhouse Inc), Revolving Credit Agreement (Mens Wearhouse Inc)

Replacement of Banks. If any Bank becomes a Defaulting Bank or if any Bank requests compensation under Section 2.10(f), 2.14 or 2.16 4.4 or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Bank notifies or any governmental authority for the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if account of any Bank defaults in its obligation pursuant to fund Advances hereunderSection 5.5, then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1011.5), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, conditioned or delayed, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) ), and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 4.4 or 2.16payments required to be made pursuant to Section 5.5, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Credit Agreement (3m Co)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f), 2.14 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if any Bank defaults in its obligation to fund Advances any LC Disbursement hereunder, or if any Bank ceases at any time to be an NAIC Approved Bank, then the Company may, at its sole expense and effort, upon notice to such Bank and the Administrative Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1010.06), all its interests, rights and obligations under this Agreement and the Committed Letters of Credit and the Alternative Currency Letters of Credit issued by such Bank to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank it accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, withheld and (ii) such Bank shall have received payment of an amount equal to the outstanding principal amount of its AdvancesLC Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal LC Disbursements and accrued interest and fees) or the Company applicable Account Parties (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 or 2.16, such assignment will result in a reduction in such compensation. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, thereto the circumstances entitling the Company Account Parties to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Credit Agreement (Lincoln National Corp)

Replacement of Banks. If any Bank requests compensation -------------------- under Section 2.10(f), 2.14 2.14, 2.16 or 2.16 3.04 or if any Bank notifies the Company --------------- ---- ---- ---- that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if any Bank defaults in its obligation to fund Advances or issue Letters of Credit hereunder, then the Company may, at its sole expense and effort, upon notice to such Bank and the Administrative Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.10), all its interests, rights and ------------- obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 or 2.16, --------------- ---- ---- such assignment will result in a reduction in such compensation. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Credit Agreement (Encompass Services Corp)

Replacement of Banks. If any Bank is affected by the events or circumstances described in Sections 4.3(b) and 4.4 and requests additional compensation under Section 2.10(f), 2.14 or 2.16 or if any Bank notifies pursuant to the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms, or if any Bank defaults in its obligation to fund Advances hereunderterms of this Agreement, then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the Agent, (a) require such Bank to assign and delegate, without recourse (and in accordance with and subject to the restrictions contained set forth in Section 11.1012.6 hereof), all its interests, rights rights, and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a such Bank accepts such assignment)) or (b) reduce the Commitment of such Bank which such events or circumstances described in Section 4.3(b) and Section 4.4 are in existence; provided provided, that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not be unreasonably be withheldwithheld or delayed, (ii) such Bank shall have received payment of an amount equal to the outstanding principal amount of its AdvancesRevolving Credit Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, hereunder from the assignee (to the extent of such the outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 pursuant to 4.3(b) or 2.164.4 hereof, such assignment will result in a reduction in of such compensationcompensation or payments. A Bank shall not be required to make any such assignment and or delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation delegations cease to apply.

Appears in 1 contract

Samples: Credit Agreement (United Capital Corp /De/)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f)13.1, 2.14 or 2.16 or if Borrower is required to pay any additional amount to any Bank notifies or any Governmental Authority for the Company that it cannot fund certain Loans or is unable account of any Bank pursuant to deliver the Prescribed FormsSection 13.6, or if any Bank defaults in its obligation to fund Advances becomes a Defaulting Bank hereunder, then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the Administrative Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1014.10(c)), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesRevolving Loans and participations in Letter of Credit disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 13.1 or 2.16payments required to be made pursuant to Section 13.6, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Credit Agreement (Par Petroleum Corp/Co)

AutoNDA by SimpleDocs

Replacement of Banks. If any Bank requests compensation under Section 2.10(f)Sections 13.3 or 13.5, 2.14 or 2.16 or if the Borrower is required to pay any additional amount to any Bank notifies or any Governmental Authority for the Company that it cannot fund certain Loans or is unable account of any Bank pursuant to deliver the Prescribed FormsSection 13.6, or if any Bank defaults in its obligation to fund Advances hereunderis a Defaulting Bank, then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the Administrative Agent, require such Bank to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 11.1014.8), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a such Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not be unreasonably be withheld, and (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans and funded portion of any draws under Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 or 2.16, such assignment will result in a reduction in such compensation. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Credit Agreement (GeoMet, Inc.)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f), 2.14 Sections 3.2 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms4.7, or if any Bank defaults in its obligation to fund Advances Loans hereunder, or otherwise has given notice pursuant to Sections 3.2, 3.3 or 3.4 (unless in each case the basis for such request or notice is generally applicable to all Banks), then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the AgentAgent within 90 days of such request or notice, if no Default or Event of Default exists, require such Bank to assign and delegate, without recourse delegate (in accordance with and subject to the restrictions contained in Section 11.1013.10), all its interests, rights and obligations under this Agreement and the Canadian Term Loan Facility to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunderhereunder and under the Canadian Term Loan Facility, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 Sections 3.2 or 2.164.7, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mens Wearhouse Inc)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f)Sections 3.6, 2.14 3.9 or 2.16 3.12, or if the obligation of any Bank notifies to make or maintain Eurodollar Loans has been suspended under Section 3.8, or if the Company that it cannot fund certain Loans Borrower is required to pay any additional amount to any Bank or is unable any Governmental Authority for the account of any Bank pursuant to deliver the Prescribed FormsSection 3.11, or if any Bank defaults in its obligation is a Defaulting Bank, or if any Bank is a Non-Extending Bank, or if any Bank (a “Non-Consenting Bank”) refuses to fund Advances hereunderconsent to an amendment, modification or waiver of this Agreement that, pursuant to Section 11.6, requires consent of 100% of the Banks or if any other circumstance exists hereunder that gives the Borrower the right to replace a Bank as a party hereto, then the Company Borrower Representative may, at its sole expense and effort, upon 30 days notice to such Bank and the Administrative Agent, require such Bank to assign execute an Assignment and delegateAssumption (the Administrative Agent being hereby authorized to execute any Assignment and Assumption on behalf of such Bank relating to the assignment of Loans and/or Commitments of such Bank) within 60 days of such notice assigning and delegating, without recourse (in accordance with and subject to the restrictions contained in in, and consents required by, Section 11.1011.3), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); , provided that (i) the Company shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 or 2.16, such assignment will result in a reduction in such compensation. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply.that:

Appears in 1 contract

Samples: Credit Agreement (Owens & Minor Inc/Va/)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f), 2.14 Sections 3.3 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms4.7, or if any Bank defaults in its obligation to fund Advances Loans hereunder, or otherwise has given notice pursuant to Sections 3.2, 3.3, 3.4 or 3.5 (unless in each case the basis for such request or notice is generally applicable to all Banks), then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the AgentAgent within 90 days of such request or notice, if no Default or Event of Default exists, require such Bank to assign and delegate, without recourse delegate (in accordance with and subject to the restrictions contained in Section 11.1013.10), all its interests, rights and obligations under this Agreement and the U.S. Revolving Credit Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its AdvancesLoans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunderhereunder and under the U.S. Revolving Credit Agreement, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f), 2.14 Sections 3.3 or 2.164.7, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Term Credit Agreement (Mens Wearhouse Inc)

Replacement of Banks. If any Bank requests compensation under Section 2.10(f)Sections 2.8, 2.14 3.3 or 2.16 or if any Bank notifies the Company that it cannot fund certain Loans or is unable to deliver the Prescribed Forms4.6, or if any Bank defaults in its obligation to fund Advances Loans hereunder, or otherwise has given notice pursuant to Sections 3.2, 3.4 or 3.5 (unless in each case the basis for such request or notice is generally applicable to all Banks), then the Company Borrower may, at its sole expense and effort, upon notice to such Bank and the AgentAgent within 90 days of such request or notice, if no Default or Event of Default exists, require such Bank to assign and delegate, without recourse delegate (in accordance with and subject to the restrictions contained in Section 11.1013.10), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Bank, if a Bank accepts such assignment); provided that (i) the Company Borrower shall have received the prior written consent of the Agent, which consent shall not unreasonably be withheld, (ii) such Bank shall have received payment of an amount equal to the outstanding principal of its Advances, Loans accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.10(f)Sections 2.8, 2.14 3.3 or 2.164.6, such assignment will result in a reduction in such compensationcompensation or payments. A Bank shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Bank or otherwise, the circumstances entitling the Company Borrower to require such assignment and delegation cease to apply.

Appears in 1 contract

Samples: Term Credit Agreement (Mens Wearhouse Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.