Replacement of Defaulting Lender. The Borrower shall have the right to replace a Defaulting Lender in accordance with Section 2.15.
Replacement of Defaulting Lender. The Borrower may require a Defaulting Lender to assign and delegate its interests, rights and obligations under this Agreement in accordance with Section 3.07
Replacement of Defaulting Lender. If any Lender is a Defaulting Lender, the Administrative Agent may, upon notice to such Lender and Borrower, replace such Lender by causing such Lender to assign its Loan (with the related assignment fee to be paid by such Defaulting Lender) pursuant to Section 12.3 to one or more Persons eligible under such Section procured by the Administrative Agent. Borrower shall pay in full all principal, interest, fees and other amounts owing to such Defaulting Lender through the date of replacement. Any Defaulting Lender being replaced under this Section 2.14(c) shall execute and deliver an Assignment with respect to such Lender’s Loan.
Replacement of Defaulting Lender. So long as any Lender is a Defaulting Lender, such Defaulting Lender may be replaced in accordance with Section 11.14.
Replacement of Defaulting Lender. (i) If any Lender fails to perform its obligation to make any Advance hereunder (a "Defaulting Lender"), and as a result of such failure to perform (A) Borrower does not receive the total amount of an Advance requested by Borrower, or (B) Borrower is required to repay Agent for amounts received by Borrower and not paid by such Defaulting Lender, then Borrower may, upon at least 5 Business Days' prior irrevocable notice to each of such Lender, Agent, and S&A Agent, permanently replace such Defaulting Lender with one or more Eligible Transferees (collectively, the "Replacement Lenders"). The notice from Borrower to replace a Lender shall specify an effective date for such replacement, which date shall not be later than the tenth Business Day after the date such notice is given. Prior to such effective date, such Defaulting Lender and each Replacement Lender shall execute an Assignment and Acceptance Agreement. The replacement of such Lender shall 33 be made in accordance with the terms of Section 15.1.
Replacement of Defaulting Lender. The Borrower may replace any Defaulting Lender in accordance with Section 10.13.
Replacement of Defaulting Lender. The Borrower shall have the right (A)(x) to seek one or more Persons reasonably satisfactory to the Administrative Agent and the Borrower to become a substitute Lender and assume all or part of the Commitment of any Defaulting Lender, and in such event, the Borrower, the Administrative Agent and any such substitute Lender shall execute and deliver, and such Defaulting Lender shall thereupon be deemed to have executed and delivered, a duly completed Assignment and Assumption to effect such substitution and/or (y) to seek one or more Persons reasonably satisfactory to the Administrative Agent and the Borrower to become a substitute Lender and purchase all or part of the Loans and Commitments of such Defaulting Lender and, in such event, the Borrower, the Administrative Agent and any such substitute Lender shall execute and deliver, and such Defaulting Lender shall thereupon be deemed to have executed and delivered, a duly completed Assignment and Assumption to effect such substitution or (B) upon notice to the Administrative Agent, and at the Borrower’s option, terminate the Commitments of such Defaulting Lender, in whole or in part, without premium or penalty.
Replacement of Defaulting Lender. If any Lender is a Defaulting Lender and shall remain a Defaulting Lender for 5 or more consecutive Business Days, the Borrower shall have the right (in addition to all other rights that the Borrower may have with respect to such Defaulting Lender) for a period of 45 days following the date of such Lender becomes a Defaulting Lender to request that such Defaulting Lender assign its Commitment and outstanding Obligations to a proposed Eligible Assignee designated by the Borrower and reasonably satisfactory to Agent and, within 10 Business Days of such request, such Defaulting Lender shall, upon payment in cash to such Defaulting Lender of all such Lender's outstanding Obligations and at the Borrower's expense, promptly take all actions reasonably necessary to consummate such assignment; PROVIDED that at any time prior to the consummation of any such assignment, the Agent may (but shall have no obligation to) designate a proposed Eligible Assignee in substitution for the proposed Eligible Assignee designated by the Borrower, in which event, the applicable Defaulting Lender shall, upon payment in cash to such Defaulting Lender of all such Lender's outstanding Obligations and at the Borrower's expense, promptly take all actions reasonably necessary to consummate the proposed assignment. The Borrower shall offer the Commitment of such Defaulting Lender to other Lenders (other than Defaulting Lenders) before offering such Commitment for assignment to any Person that is not a Lender.
Replacement of Defaulting Lender. Within fifteen (15) days after receipt by Borrower of written notice from Agent declaring any Lender a Defaulting Lender, Borrower may, at its option, without limiting any of its rights and remedies obtain, at Borrower’s expense, a replacement Lender (“Replacement Lender”) for a Defaulting Lender (the “Affected Lender”), which Replacement Lender shall be reasonably satisfactory to Agent. In the event Borrower obtains a Replacement Lender that will purchase all outstanding Obligations for the full amount thereof owed to such Affected Lender and assume its Commitments hereunder within ninety (90) days following notice of Borrower’s intention to do so, the Affected Lender shall sell and assign its Loans and Commitments to such Replacement Lender in accordance with documentation reasonably satisfactory to Affected Lender and Replacement Lender.
Replacement of Defaulting Lender. The Borrower shall have the right, if no Default or Event of Default then exists, to replace a Defaulting Lender with one or more additional banks or financial institutions (collectively, the "Replacement Lender"), provided, that (a) at the time of any replacement pursuant to this Section 2.19, the Replacement Lender shall enter into one or more Assignment and Acceptance agreements pursuant to, and in accordance with the terms of, Section 11.7(a) (and with all processing and recordation fees payable pursuant to said Section 11.7(a) to be paid by the Replacement Lender or, at its option, the Borrower) pursuant to which the Replacement Lender shall acquire all of the rights and obligations of the Defaulting Lender hereunder and, in connection therewith, shall pay to the Defaulting Lender in respect thereof an amount equal to the sum of (i) the principal of, and all accrued interest on, all outstanding Loans of the Defaulting Lender, and (ii) all accrued, but theretofore unpaid, fees owing to the Defaulting Lender pursuant to Section 2.9, and (b) all other obligations of the Borrower owing to the Defaulting Lender (including all other obligations, if any, owing pursuant to Sections 2.16, 2.17 and 2.18) shall be paid in full to such Defaulting Lender concurrently with such replacement.
