Common use of Substitution of Lenders Clause in Contracts

Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an “Affected Lender”) of a claim for compensation under Section 3.6, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s Loans and Commitment (a “Replacement Lender”); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Loans and Commitment (but no other Lender shall be required to do so); or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (ii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 6 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

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Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an "Affected Lender") of a claim for compensation under Section 3.6, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so); or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (ii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 4 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Substitution of Lenders. Upon the receipt by the Borrower from the Fronting Bank or any Lender (an “Affected Lender”) of a claim for compensation under Section 3.63.1, 3.2 or 3.3 the Borrower may: (ia) request the Affected Lender to use its best reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s Loans Credit Extensions and Commitment (a “Replacement Substitute Lender”); (iib) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Loans Credit Extensions and Commitment (but no other Lender shall be required to do so)Commitment; or (iiic) designate a Replacement Substitute Lender. Any such designation of a Replacement Substitute Lender under clause (iia) or (iiib) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 4 contracts

Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD), Lc Agreement (Max Re Capital LTD), Letter of Credit Reimbursement Agreement (Max Re Capital LTD)

Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an "Affected Lender") of a claim for compensation under Section 3.63.1, 3.2, 3.3 or 3.5 the Borrower may: (i) request the Affected Lender to use its best reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a “Replacement "Substitute Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Substitute Lender. Any such designation of a Replacement Substitute Lender under clause (iii) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).. SECTION 3.8

Appears in 2 contracts

Samples: Credit Agreement (Montpelier Re Holdings LTD), Credit Agreement (Montpelier Re Holdings LTD)

Substitution of Lenders. Upon the receipt by the Borrower Company from any Lender (an "Affected Lender") of a claim for compensation under Section 3.64.02, --------------- ------------ the Borrower Company may: (ia) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower Company, to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment Commitments (a "Replacement Lender"); (iib) request one or more of the ------------------ other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitments; or (iiic) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (iia) or (iiic) shall be subject to the prior - written consent of the Administrative Agent and each Issuing Lender having any outstanding Letters of Credit (which consent consents shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Aecom Merger Corp)

Substitution of Lenders. Upon the receipt by the Borrower Borrowers from any Lender (an "Affected Lender") of a claim for compensation under Section 3.64.3, the Borrower Borrowers may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank Lender or financial institution satisfactory to the Borrower Borrowers to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (iii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Specialty Equipment Companies Inc)

Substitution of Lenders. Upon the receipt by the Borrower Borrowers from any Lender (an "Affected Lender") of a claim for compensation under Section pursuant to SECTIONS 3.1, 3.3, 3.5 or 3.6, the Borrower Borrowers may: (ia) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower Borrowers to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment Commitments (a "Replacement Lender"); , (iib) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so); Commitments or (iiic) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (iia) or (iiic) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheldwithheld or delayed).

Appears in 1 contract

Samples: Loan Agreement (CSG Systems International Inc)

Substitution of Lenders. (a) Upon the receipt by ----------------------- the Borrower from any Lender (an "Affected Lender") of a claim for compensation --------------- under Section 3.64.1, 4.2 or 4.3 the Borrower may: (i) request the Affected Lender ----------- --- --- to use its best reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a “Replacement "Substitute ---------- Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Substitute Lender. Any such designation of a Replacement Substitute Lender under clause (iii) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Renaissancere Holdings LTD)

Substitution of Lenders. . Upon the receipt by the Borrower from any Lender (an “Affected Lender”) of a claim for compensation under Section 3.6, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s Loans and Commitment (a “Replacement Lender”); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Loans and Commitment (but no other Lender shall be required to do so); or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (ii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

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Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an "Affected Lender") of a claim for compensation under Section 3.6, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (ii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an "Affected Lender") of a claim for compensation under Section 3.61.1.5.6 or in the case any withholding liability arises under Section 1.5.4, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s Loans 's Advances and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Loans 's Advances and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (iii) or (iii) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Facility Agreement (CCC Information Services Group Inc)

Substitution of Lenders. Upon the receipt by the Borrower from ------------------------ the Fronting Bank or any Lender (an "Affected Lender") of a claim for compensation under Section 3.63.1, 3.2 or 3.3 the Borrower may: (ia) request the Affected Lender to use its best reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s Loans 's Credit Extensions and Commitment (a “Replacement "Substitute Lender"); (iib) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Loans 's Credit Extensions and Commitment (but no other Lender shall be required to do so)Commitment; or (iiic) designate a Replacement Substitute Lender. Any such designation of a Replacement Substitute Lender under clause (iia) or (iiib) shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Reimbursement Agreement (Max Re Capital LTD)

Substitution of Lenders. Upon the receipt by the Borrower Company from any Lender (an "Affected Lender") of a claim for compensation under Section 3.6, 3.1 or 3.2 (which claim results from circumstances applicable to such Lender and not Lenders generally) the Borrower Company may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower Company to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s 's Loans and Commitment (but no other Lender shall be required to do so)Commitment; or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (iii) or (iii) shall be subject to the prior written consent of the Agent and the Swing Line Lender (which consent consents shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Truserv Corp)

Substitution of Lenders. Upon the receipt by the Borrower from any Lender (an "Affected Lender") of a claim for compensation under Section 3.6, the Borrower may: (i) request the Affected Lender to use its best efforts to obtain a replacement bank or financial institution satisfactory to the Borrower to acquire and assume all or a ratable part of all of such Affected Lender’s 's Loans and Commitment (a "Replacement Lender"); (ii) request one or more of the other Lenders to acquire and assume all or part of such Affected Lender’s Lender s Loans and Commitment (but no other Lender shall be required to do so); or (iii) designate a Replacement Lender. Any such designation of a Replacement Lender under clause (ii) or (iii) shall be subject to the prior written consent of the Agent (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

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