Common use of Substitution of Bank Clause in Contracts

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 6 contracts

Sources: Credit Agreement (Nortel Networks Corp), Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks LTD)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 6 contracts

Sources: 364 Day Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower Borrowers shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 4 contracts

Sources: Credit Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 4 contracts

Sources: Credit Agreement (Litton Industries Inc), Credit Agreement (Litton Industries Inc), Short Term Credit Agreement (Litton Industries Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 3 contracts

Sources: 364 Day Credit Agreement (Policy Management Systems Corp), Credit Agreement (Dean Foods Co), 3 Year Credit Agreement (Policy Management Systems Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been or to convert or continue outstanding Loans into Euro-Dollar Loans shall be suspended pursuant to Section 8.02 or (ii) any Bank has demanded shall demand compensation under pursuant to Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the AgentAgent and the Issuing Banks, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note outstanding Loans of such Bank and to assume the Commitment and Letter of Credit Liabilities of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 3 contracts

Sources: Credit Agreement (Galileo International Inc), Credit Agreement (Galileo International Inc), Credit Agreement (Universal Health Services Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the AgentAdministrative Agents, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 3 contracts

Sources: Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 3 contracts

Sources: Credit Agreement (K N Energy Inc), 364 Day Credit Agreement (K N Energy Inc), Loan Agreement (Holly Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the AgentAgents, to seek require such Bank to transfer, pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit D hereto, its Note and Commitment to a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) satisfactory to purchase the Note Borrower and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its CommitmentAgents.

Appears in 2 contracts

Sources: Credit Agreement (Iomega Corp), Credit Agreement (Iomega Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Currency Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 or 8.048.3, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Loans and Note (as applicable) and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 2 contracts

Sources: Credit Agreement (Ingersoll Rand Co LTD), Credit Agreement (Ingersoll Rand Co LTD)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Euro- Currency Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 or 8.048.3, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Loans and Note (as applicable) and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 2 contracts

Sources: Credit Agreement (Ingersoll Rand Co), Credit Agreement (Ingersoll Rand Co)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Eurocurrency Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 2 contracts

Sources: Credit Agreement (Armstrong World Industries Inc), Credit Agreement (Armstrong World Industries Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (K N Energy Inc), 364 Day Credit Agreement (Kinder Morgan Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been or to convert or continue outstanding Loans into Euro- Dollar Loans shall be suspended pursuant to Section 8.02 or (ii) any Bank has demanded shall demand compensation under pursuant to Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the AgentAgent and the Issuing Banks, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note outstanding Loans of such Bank and to assume the Commitment and Letter of Credit Liabilities of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 2 contracts

Sources: Credit Agreement (Galileo International Inc), Credit Agreement (Galileo International Inc)

Substitution of Bank. If (i) the obligation of any Bank to -------------------- make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Term Loan Agreement (Policy Management Systems Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Litton Industries Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or Section 8.04, the Borrower Company shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Applied Materials Inc /De)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans (and, if applicable, the Note) and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Kinder Morgan Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.. 42

Appears in 1 contract

Sources: 364 Day Credit Agreement (K N Energy Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or 8.02, (ii) any Bank has demanded compensation or given notice of its intention to demand compensation under Section 8.03 or 8.04(iii) the Borrower is required to pay any additional amount to any Bank pursuant to Section 2.15(a), the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of replace such Bank, which agrees in such event to sell its Note and transfer its CommitmentBank under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Sears Roebuck Acceptance Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been or to convert or continue outstanding Term Loans into Euro-Dollar Loans shall be suspended pursuant to Section 8.02 or (ii) any Bank has demanded shall demand compensation under pursuant to Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment outstanding Term Loans of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Galileo International Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Eurocurrency Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.048.03, the Borrower Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and Notes and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Masco Corp /De/)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment and Letter of Credit Liabilities of such Bank, which agrees in . Each such event substitute bank must be acceptable to sell its Note and transfer its Commitmentthe Issuing Bank.

Appears in 1 contract

Sources: Credit Agreement (Cisco Systems Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment Commitments of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Blount International Inc)

Substitution of Bank. If (i) the obligation of any -------------------- Bank to make or maintain Euro-Dollar Loans has been suspended pursuant to Section 8.02 or 8.02, (ii) any Bank has demanded compensation or given notice of its intention to demand compensation under Section 8.03 or 8.04(iii) the Borrower is required to pay any additional amount to any Bank pursuant to Section 2.15(a), the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of replace such Bank, which agrees in such event to sell its Note and transfer its CommitmentBank under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Dean Witter Discover & Co)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Notes and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Dean Foods Co)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 9.02 or (ii) any Bank has demanded compensation under Section 8.03 9.03 or 8.049.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.. ARTICLE 10

Appears in 1 contract

Sources: Credit Agreement (Unova Inc)

Substitution of Bank. If (i) the obligation of any Bank to -------------------- make Euro-Dollar Rate Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03 8.3 or 8.048.4, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Policy Management Systems Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or 8.02, (ii) any Bank has demanded compensation or given notice of its intention to demand compensation under Section 8.03 or 8.04(iii) the Borrower is required to pay any additional amount to any Bank pursuant to Section 2.15(a), the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of replace such Bank, which agrees in such event to sell its Note and transfer its CommitmentBank under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Sears Roebuck Acceptance Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Armstrong World Industries Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank or LC Issuing Bank has demanded compensation under Section 8.03 or 8.04, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the BanksBank Parties) to purchase the Note and assume the Commitment of such Bank or replace the Letter of Credit issued by such LC Issuing Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Dolco Packaging Corp /De/)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Borrower Company shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Notes and assume the Commitment Commitment(s) of such BankBank and its Related Bank (if any), which agrees all in such event to sell its Note and transfer its Commitmentaccordance with Section 11.06(c).

Appears in 1 contract

Sources: Credit Agreement (Betzdearborn Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Currency Loans has been or to convert or continue outstanding Loans into Euro-Currency Loans in any currency shall be suspended pursuant to Section 8.02 or (ii) any Bank has demanded shall demand compensation under pursuant to Section 8.03 8.03, 8.04 or 8.048.05, the Borrower shall have the right, with the assistance of the AgentAdministrative Agent and the Issuing Banks, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note outstanding Loans of such Bank and to assume the Commitment and Letter of Credit Liabilities of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Universal Health Services Inc)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Currency Loans has been suspended pursuant to Section 8.01(b) or 8.02 or (ii) any 75 Bank has demanded compensation under Section 8.03 or 8.048.05, the Borrower Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and Notes (if any) of such Bank for cash in the currency in which the principal thereof is denominated without recourse to such Bank and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Atlantic Richfield Co /De)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank or LC Issuer has demanded compensation under Section 8.03 or 8.048.03, the Borrower shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Cabot Oil & Gas Corp)

Substitution of Bank. If (i) the obligation of any Bank to make Euro-Dollar Currency Loans has been suspended pursuant to Section 8.01(b) or 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.048.05, the Borrower Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note Loans and Notes (if any) of such Bank for cash in the currency in which the principal thereof is denominated without recourse to such Bank and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

Appears in 1 contract

Sources: Credit Agreement (Atlantic Richfield Co /De)