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Credit Agreement Mitigation Obligation Sample Clauses

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.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: May 2014
PLI Item #: 133466
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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