Common use of Implementation of CAM Clause in Contracts

Implementation of CAM. On the CAM Exchange Date, (i) the Commitments shall automatically and without further act be terminated as provided in Article VII and (ii) the Lenders shall automatically and without further act be deemed to have exchanged interests in the Credit Facilities such that in lieu of the interest of each Lender in each Credit Facility in which it shall participate as of such date (including such Lender's interest in the principal, reimbursement, interest and Fee obligations of each Credit Party in respect of each such Credit Facility), such Lender shall hold an interest in every one of the Credit Facilities (including the principal, reimbursement, interest and Fee obligations of each Credit Party in respect of each such Credit Facility and each L/C Reserve Account established pursuant to Section 9.02 below), whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Lender, each person acquiring a participation from any Lender as contemplated by Section 10.04(f) and each Credit Party hereby consents and agrees to the CAM Exchange. Each Credit Party agrees from time to time to execute and deliver to the Administrative Agent all such Notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any Notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any Notes so executed and delivered; provided, however, that the failure of any Credit Party to execute or deliver or of any Lender to accept any such Note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange.

Implementation of CAM. On the CAM Exchange Date, (i) the Commitments shall automatically and without further act be terminated as provided in Article VII and (ii) the Lenders shall automatically and without further act be deemed to have exchanged interests in the Designated Obligations outstanding under the Credit Facilities such that in lieu of the interest of each Lender in the Designated Obligations outstanding under each Credit Facility in which it shall participate as of such date (including such Lender's interest in the principal, reimbursement, interest and Fee obligations of each Credit Party in respect of each such Credit Facility)date, such Lender shall hold an interest in every one the Designated Obligations outstanding under each of the Credit Facilities (including the principal, reimbursement, interest and Fee obligations of each Credit Party in respect of each such Credit Facility and each L/C Reserve Account established pursuant to Section 9.02 below)Facilities, whether or not such Lender shall previously have participated therein, equal to such Lender's CAM Percentage thereof. Each Lender, each person acquiring Participant that has acquired a participation from any Lender as contemplated by Section 10.04(f9.04(e) and each Credit Loan Party hereby consents and agrees to the CAM Exchange. Each Credit Loan Party agrees from time to time to execute and deliver to the Administrative Agent all such Notes promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any Notes promissory notes originally received by it in connection with its Loans hereunder to the Administrative Agent against delivery of any Notes promissory notes so executed and delivered; provided, however, that the failure of any Credit Loan Party to execute or deliver or of any Lender to accept any such Notepromissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange.