Common use of Termination by Lenders Clause in Contracts

Termination by Lenders. All or any Lender's obligations under this Agreement shall terminate with respect to such Lender on the Initial Termination Date by such Lender giving the Administrative Agent, the Borrower and the other Lenders at least ninety (90) days' prior written notice of termination. Within sixty (60) days of receipt of such notice from any Lender, the Administrative Agent shall either: (i) give notice to the Borrower of termination of this Agreement in accordance with the terms hereof and thereof, in which event the obligations of the Lenders hereunder and thereunder shall terminate as of the Initial Termination Date, or (ii) if the other Lenders so elect, they shall have the right to purchase the terminating Lender's or Lenders' pro rata share of its or their interest hereunder for the full amount thereof on a pro rata basis among such electing Lenders, together with any accrued interest. Termination of this Agreement by any Lender as herein provided shall not affect the Lenders' respective rights and obligations under this Agreement incurred prior to the effective date of termination as set forth in the preceding sentence.

Termination by Lenders. All or any Lender's obligations under this Financing Agreement shall terminate with respect to such Lender on the Initial Termination Date by such Lender giving the Administrative Agent, the Borrower Agent and the other Lenders at least ninety (90) days' prior written notice of termination. Within Without limiting Section 14.01(a), within sixty (60) days of receipt of such notice from any Lender, the Administrative Agent shall either: (i) give notice to the Borrower that such Lender (other than CIT/CS) has given the Agent a notice of termination of this Agreement in accordance with the terms hereof and thereof, in which event the obligations of the Lenders hereunder and thereunder (subject to the notice required by Section 14.01(a)) shall terminate as of the Initial Termination Date, or (ii) if the other Lenders so elect, they shall have the right to purchase the terminating Lender's or Lenders' pro rata share of its or their interest hereunder for the full amount thereof on a pro rata basis among such electing Lenders, together with any accrued interest. Termination of this Financing Agreement by any Lender as herein provided shall not affect the Lenders' respective rights and obligations under this Financing Agreement incurred prior to the effective date of termination as set forth in the preceding sentence.