Common use of Right to Replace Clause in Contracts

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an “Affected Bank”) in accordance with the procedures in this Section 2.14 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 3 contracts

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Guaranty and Contribution Agreement (LaSalle Hotel Properties)

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Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 3 contracts

Samples: Credit Agreement (Lasalle Hotel Properties), Credit Agreement (Lasalle Hotel Properties), Credit Agreement (Lasalle Hotel Properties)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v2.2(c)(iv), 2.09, 2.112.9, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Revolving Commitments occurs as a result thereof.

Appears in 3 contracts

Samples: Security Agreement (Arkansas Best Corp /De/), Security Agreement (Arkansas Best Corp /De/), Security Agreement (Arkansas Best Corp /De/)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each ---------------- Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 2 contracts

Samples: Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank ---------------- affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 2 contracts

Samples: Credit Agreement (American General Hospitality Corp), Management Agreement (American General Hospitality Corp)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v2.02(c)(iv), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 2 contracts

Samples: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)

Right to Replace. The Borrower shall have the right to replace each Terminating Bank at any Defaulting Lender time and each Bank affected by a condition under Section 2.02(c)(v2.02(c)(iii) or (v), 2.09, 2.112.08(e), or 2.12 2.10 for more than 90 60 days (each Terminating Bank and each such affected Bank, an "Affected Bank") with an Eligible Assignee in accordance with the procedures in this Section 2.14 and provided that no reduction of the total Commitments occurs as a result thereof2.15.

Appears in 1 contract

Samples: Credit Agreement (Living Centers of America Inc)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under clause (v) of Section 2.02(c)(v2.2(c), 2.09, 2.11, Section 2.9 or Section 2.12 for more than 90 days or each Bank which fails to consent to any extension of the Maturity Date pursuant to Section 2.18 (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an “Affected Bank”) in accordance with the procedures in this Section 2.14 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v2.2(c)(iv), 2.092.9, 2.11, 2.11 or 2.12 for more than 90 30 days (each such affected Bank, an “Affected Bank”) in accordance with the procedures in this Section 2.14 2.16 and provided that no reduction of the total Revolving Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

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Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and ---------------- each Bank affected by a condition under Section 2.02(c)(v2.2(c)(iv), 2.092.9, 2.11, 2.11 or 2.12 for more than 90 30 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.16 and provided that no reduction of the total Revolving Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and ---------------- each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Credit Agreement (Lasalle Hotel Properties)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v2.02(c)(iv), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an "Affected Bank") in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Revolving Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an “Affected Bank”) in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)

Right to Replace. The Borrower shall have the right to replace any Defaulting Lender and each Bank affected by a condition under Section 2.02(c)(v), 2.09, 2.11, or 2.12 for more than 90 days (each such affected Bank, an “Affected Bank”) in accordance with the procedures in this Section 2.14 2.15 and provided that no reduction of the total Total Commitments occurs as a result thereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Eagle Hospitality Properties Trust, Inc.)

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