Common use of Bank Replacement Clause in Contracts

Bank Replacement. If the Company is required to make any reduction or withholding with respect to any payment due any Bank under this Section 4.9 (in any such case a "Replaceable Bank"), the Company may, with the consent of the Agent, propose that another bank (a "Replacement Bank"), which bank may be an existing Bank, be substituted for and replace the Replaceable Bank for purposes of this Agreement. If a Replacement Bank is so substituted for the Replaceable Bank, the Replaceable Bank shall enter into an Assignment Agreement with the Replacement Bank, the Company and the Agent to assign and transfer to the Replacement Bank the Replaceable Bank's Commitment and Loans hereunder pursuant to and in accordance with the provisions and requirements of Section 12.12 hereof and, as a condition to its execution thereof, the Replaceable Bank shall concurrently receive the full amount of its Loans, interest thereon, and all accrued fees and other amounts to which it is entitled under this Agreement.

Bank Replacement. If the Company is required to make any reduction or withholding with respect to any payment due any Bank under this Section 4.9 (in any such case a "Replaceable BankREPLACEABLE BANK"), the Company may, with the consent of the Agent, propose that another bank (a "Replacement BankREPLACEMENT BANK"), which bank may be an existing Bank, be substituted for and replace the Replaceable Bank for purposes of this Agreement. If a Replacement Bank is so substituted for the Replaceable Bank, the Replaceable Bank shall enter into an Assignment Agreement with the Replacement Bank, the Company and the Agent to assign and transfer to the Replacement Bank the Replaceable Bank's Commitment and Loans and credit risk with respect to Letters of Credit hereunder pursuant to and in accordance with the provisions and requirements of Section 12.12 11.12 hereof and, as a condition to its execution thereof, the Replaceable Bank shall concurrently receive the full amount of its Loans, interest thereon, and all accrued fees and other amounts to which it is entitled under this Agreement.