Replacement of Servicer. Upon the occurrence and during the continuation of a Servicer Termination Event, the Agent may, or upon the direction of the Lender shall, replace the Person then acting as Servicer.
Appears in 2 contracts
Sources: Receivables Loan Agreement (Arcbest Corp /De/), Receivables Loan Agreement (Arkansas Best Corp /De/)
Replacement of Servicer. Upon the occurrence and during the continuation of a Servicer Termination Event, the Administrative Agent may, or upon the direction of the Lender Majority Lenders shall, replace the Person then acting as Servicer.
Appears in 1 contract
Replacement of Servicer. Upon the occurrence and during the continuation of a Servicer Termination Event, the Agent may, or upon the direction of the Lender Majority Lenders shall, replace the Person then acting as Servicer.
Appears in 1 contract