Common use of Extending Lender Clause in Contracts

Extending Lender. In the event of a replacement of a Non-Extending Lender, such Non-Extending Lender agrees to assign, without recourse, representation or warranty, all of its rights and obligations under the Loan Documents, with the prior consent of the Administrative Agent (which consent shall not be unreasonably withheld), to one or more Extending Lenders in such percentages as shall be determined by the Parent Borrower, upon payment by such Extending Lender(s) to such Non-Extending Lender of all principal, interest, fees and other amounts accrued or owing to such Non-Extending Lender under the Loan Documents. In the event that the Parent Borrower shall have elected to replace or remove a Lender pursuant to this Section 2.11(b), then, on the date, if any, upon which all of the Parent Borrower's obligations under this Section 2.11(b) shall have been satisfied, the then current Commitment Termination Date shall be extended to the day which is one year thereafter, provided, however, that (A) if such day is not a Business Day, then such then current Commitment Termination Date shall be extended to the immediately preceding Business Day, and (B) if the Parent Borrower shall not have satisfied such obligations on or prior to the then current Commitment Termination Date, then such Commitment Termination Date shall not be extended.

Extending Lender. In the event that the Borrower shall not have replaced a Non-Extending Lender for any reason by the then current Maturity Date, the Borrower shall be deemed to have elected to reduce the Aggregate Revolving Credit Commitment Amount by the Revolving Credit Commitment Amount of such Non-Extending Lender. In the event of a replacement of a Non-Extending Lender, such Non-Extending Lender agrees to assign, without recourse, representation or warranty, all of its rights and obligations under the Loan Documents, with the prior consent of the Administrative Agent (which consent shall not be unreasonably unrea- sonably withheld), to one or more Extending Lenders in such percentages as shall be determined by the Parent Borrower, upon payment by such Extending Lender(s) to such Non-Extending Lender of all principal, interest, fees and other amounts accrued or owing to such Non-Extending Lender under the Loan Documents. In the event that the Parent Borrower shall have elected (or be deemed to have elected) to replace or remove a Non-Extending Lender pursuant to this Section 2.11(b2.15(b), then, on the date, if any, upon which all of the Parent Borrower's obligations under this Section 2.11(b2.15(b) shall have been satisfied, the then current Commitment Termination Maturity Date shall be extended to the day which is one year thereafter, provided, however, that PROVIDED THAT (A1) if such day is not a Business Day, then such then current Commitment Termination Maturity Date shall be extended to the immediately preceding Business Day, and (B2) if the Parent Borrower shall not have satisfied such obligations on or prior to the then current Commitment Termination Maturity Date, then such Commitment Termination Maturity Date shall not be extended.