Common use of Substitution of Lender Clause in Contracts

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Lenders) to purchase the Loans and assume the Commitment of such Lender.

Appears in 4 contracts

Samples: Credit Agreement (Consolidated Edison Co of New York Inc), Credit Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Co of New York Inc)

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Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower Borrowers shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Lenders) to purchase the Loans and assume the Commitment of such Lender.

Appears in 2 contracts

Samples: Credit Agreement (Consolidated Edison Co of New York Inc), Credit Agreement (Consolidated Edison Inc)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower Company shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank Lender or banks Lenders (which may be one or more of the Lenders) to purchase the Loans and assume the Commitment (if still in effect) of such Lender.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (United States Surgical Corp)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks financial institution (which may be one or more of the Lenders) to purchase the outstanding Loans of such Lender and assume the Commitment of such Lender.

Appears in 1 contract

Samples: Credit Agreement (Cisco Systems Inc)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Eurocurrency Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the relevant Borrower shall have the right, with the assistance of the Administrative Agent, right to seek cause such Lender to transfer its Commitment to a mutually satisfactory substitute bank or banks (which may be one or more of the Lenders) which is reasonably acceptable to purchase such Borrower and the Loans and assume the Commitment of such LenderAgent.

Appears in 1 contract

Samples: Credit Agreement (Dover Corp)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Eurodollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower Company shall have the right, with the assistance of the Administrative Agent, right to seek cause such Lender to transfer its Commitment to a mutually satisfactory substitute bank or banks (which may be one or more of the Lenders) which is reasonably acceptable to purchase the Loans Company and assume the Commitment of such LenderAgent.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Dover Corp)

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Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Eurocurrency Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the relevant Borrower shall have the right, with the assistance of the Administrative Agent, right to seek cause such Lender to transfer its Commitment to a mutually satisfactory substitute bank financial institution or banks financial institutions (which may be one or more of the Lenders) which is reasonably acceptable to purchase such Borrower and the Loans and assume the Commitment of such LenderAgent.

Appears in 1 contract

Samples: Credit Agreement (Dover Corp)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a one or more mutually satisfactory substitute bank or banks financial institutions (which may be one or more of the Lenders) to purchase the Loans Note and assume the Commitment Commitments of such Lender.

Appears in 1 contract

Samples: Credit Agreement (Exide Electronics Group Inc)

Substitution of Lender. If (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.048.03, the Borrower Company shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Lenders) to purchase the Loans (by paying to such Lender the principal amount of such Loans, together with accrued interest thereon and any other amounts payable to such Lender hereunder) and assume the Commitment Revolver Commitment, Loans and other Obligations of such Lender.

Appears in 1 contract

Samples: Credit Agreement (Qwest Communications International Inc)

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