Option to Replace Lenders. If any Lender, other than the Agent in its capacity as such, shall:
Option to Replace Lenders. If any Lender shall make demand for payment or reimbursement pursuant to SECTION 3.14(A) or SECTION 3.14(B) or notifies Borrowers of the occurrence of the circumstances described in SECTION 3.15(B), then, PROVIDED THAT (a) no Default has occurred and is continuing, and (b) the circumstances resulting in such demand for payment or reimbursement are not applicable to all Lenders, Borrowers may terminate the Commitment of such Lender, in whole but not in part, by either (i) (A) giving such Lender and Administrative Agent not less than five (5) Business Days' written notice thereof, which notice shall be irrevocable and effective only upon receipt thereof by such Lender and Administrative Agent and shall specify the date of such termination, and (B) paying such Lender (and there shall become due and payable) on such date the outstanding Principal Debt of all Borrowings made by such Lender, all interest thereon, and any other Obligation owed to such Lender (including any amounts payable under SECTION 3.18), if any, or (ii) pursuant to the provisions of SECTION 13.11, proposing the introduction of a replacement Lender satisfactory to Administrative Agent, or obtaining the agreement of one or more existing Lenders, to assume the entire amount of the Commitment of the Lender whose Commitment is being terminated, on the effective date of such termination. Any such assignment to a replacement Lender or an existing Lender shall be subject to the payment to the assigning Lender an amount equal to the Principal Debt owing to such assigning Lender as of the effective date of such assignment, together with all accrued unpaid interest thereon and any Funding Loss payable under SECTION 3.18 as a result of such payment to the assigning Lender by the assignee Lender. Upon the satisfaction of all the foregoing conditions, such Lender that is being terminated shall cease to be a "LENDER" for purposes of this Agreement, PROVIDED THAT Borrowers shall continue to be obligated to such Lender under SECTION 7.12 with respect to Indemnified Liabilities (as defined in SECTION 7.12) arising prior to such termination.
Option to Replace Lenders. If any Lender, other than Agent, shall:
Option to Replace Lenders. If any Lender (an “Affected Lender”), other than the Person serving as the Administrative Agent in its capacity as such, shall:
Option to Replace Lenders. If any Lender shall:
Option to Replace Lenders. If any ------------------------- Lender shall request the Borrower to pay any amounts, or shall assert any other special rights, under Section 2.11 or 2.13 or if a Lender is a Defaulting Lender, the Borrower may request one or more other Lenders or other financial institutions, each of which is an Eligible Assignee (each a "Replacement Lender") to take ------------------ over all or the affected portion of such Lender's then outstanding Advances and to assume all or the affected portion of such Lender's Commitments and obligations hereunder. If one or more Replacement Lenders shall so agree, the Advances and Commitments of the Lender to be replaced shall, at the direction of the Borrower, be assigned to such Replacement Lenders in accordance with Section 8.07, in such amounts as the Borrower may designate. ARTICLE III CONDITIONS PRECEDENT SECTION 3.01. Conditions Precedent to ----------------------- Effectiveness. This Agreement shall become effective on the date ------------- (the "Effective Date") that the Administrative Agent shall have -------------- received counterparts of this Agreement executed by each party hereto which effectiveness shall occur after the following conditions precedent have been satisfied or waived:
Option to Replace Lenders. If any Lender shall make demand for payment or reimbursement pursuant to Section 3.14(b)
Option to Replace Lenders. If any Lender shall request the Borrower to pay any amounts, or shall assert any other special rights, under Section 2.11 or 2.13 or if a Lender is a Defaulting Lender, the Borrower may request one or more other Lenders or other financial institutions, each of which is an Eligible Assignee (each a "Replacement Lender") to take over all or the affected portion of such Lender's then outstanding Advances and to assume all or the affected portion of such Lender's Commitments and obligations hereunder. If one or more Replacement Lenders shall so agree, the Advances and Commitments of the Lender to be replaced shall, at the direction 65 61 of the Borrower, be assigned to such Replacement Lenders in accordance with Section 9.07, in such amounts as the Borrower may designate.
Option to Replace Lenders. If any Lender shall make demand for payment or reimbursement pursuant to SECTION 3.14(A) or SECTION 3.14(B) or notifies Borrowers of the occurrence of the circumstances described in SECTION 3.15(B), then, provided that (a) no Default has occurred and is continuing, and (b) the circumstances resulting in such demand for payment or reimbursement are not applicable to all Lenders, Borrowers may terminate the Commitment of such Lender, in whole but not in part, by either (i) (A) giving such Lender and Agents not less than five (5) Business Days' written notice thereof, which notice shall be irrevocable and effective only upon receipt thereof by such Lender and Agents and shall specify the date of such termination, and (B) paying such Lender (and there shall become due and payable) on such date the outstanding Principal Debt of all Borrowings made by such Lender, all interest thereon, and any other Obligation owed to such Lender (including any amounts payable under SECTION 3.17), if any, or (ii) pursuant to the provisions of
Option to Replace Lenders accordance with Section 9.07, in such amounts as the Borrower may designate.
