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Credit Agreement Mitigation Obligation Sample Clauses

Book Publication Date: May 2014
Description: Clauses covering mitigation obligations and replacement of lenders in credit agreements require the lender to mitigate the cost to the borrower of increased costs or illegality by designating the facility to an affiliate. These sample clauses are based on the LSTA model credit agreement clauses.
Type: Contract Clauses
PLI Item #: 133466
Practice Area: Bank loans, Banking and finance, Corporate finance, Financing

Keywords: "LSTA"; "Loan Syndication and Trading Association"; "credit agreement"; "credit facility"; "borrower"; "lender"; "Dodd-Frank"; "FATCA"; "loan document"; "representations and warranties"; "cash collateral"; "defaulting lender"; "event of default"; "administrative agent"; "mitigation obligations"; "replacement of lender"; "yank a bank"; "assignment and assumption"; "non-consenting lender"

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