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GIS » Topics » Substitution of Banks

This excerpt taken from the GIS 8-K filed Oct 15, 2007.
Substitution of Banks.  Upon (x) the receipt by the Company from any Bank of a notice of illegality with respect to Offshore Rate Loans pursuant to Section 3.02, (y) the receipt by the Company from any Bank of a claim for additional amounts or compensation pursuant to Section 3.01 or Section 3.03, or (z) the failure of a Bank to make any Loan on any date of Borrowing in violation of the terms of this Agreement, the Company may: (i) request one or more of the other Banks to acquire and assume all or part of such Bank’s Loans and Revolving Commitment (but no other Bank shall be required to do so); or (ii) designate a replacement bank meeting the qualifications of an Eligible Assignee.  Any such transfer under clause (i) or (ii) shall be subject to the provisions of Sections 3.04 and 10.08 hereof.

Section 3.08.  

This excerpt taken from the GIS 8-K filed Aug 7, 2007.
Substitution of Banks. Upon (x) the receipt by the Company from any Bank of a notice of illegality with respect to Offshore Rate Loans pursuant to Section 3.02, (y) the receipt by the Company from any Bank of a claim for additional amounts or compensation pursuant to Section 3.01 or Section 3.03, or (z) the failure of a Bank to make any Loan on any date of Borrowing in violation of the terms of this Agreement, the Company may: (i) request one or more of the other Banks to acquire and assume all or part of such Bank’s Loans and Revolving Commitment (but no other Bank shall be required to do so); or (ii) designate a replacement bank meeting the qualifications of an Eligible Assignee. Any such transfer under clause (i) or (ii) shall be subject to the provisions of Sections 3.04 and 10.08 hereof.

 

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Section 3.08.

This excerpt taken from the GIS 8-K filed Oct 17, 2006.
Substitution of Banks. Upon (x) the receipt by the Company from any Bank of a notice of illegality with respect to Offshore Rate Loans pursuant to Section 3.02, (y) the receipt by the Company from any Bank of a claim for additional amounts or compensation pursuant to Section 3.01 or Section 3.03, or (z) the failure of a Bank to make any Loan on any date of Borrowing in violation of the terms of this Agreement, the Company may: (i) request one or more of the other Banks to acquire and assume all or part of such Bank’s Loans and Revolving Commitment (but no other Bank shall be required to do so); or (ii) designate a replacement bank meeting the qualifications of an Eligible Assignee. Any such transfer under clause (i) or (ii) shall be subject to the provisions of Sections 3.04 and 10.08 hereof.

Section 3.08.

EXCERPTS ON THIS PAGE:

8-K
Oct 15, 2007
8-K
Aug 7, 2007
8-K
Oct 17, 2006

RELATED TOPICS for GIS:

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