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Defaulting Lender Cure
Defaulting Lender Cure contract clause examples

Defaulting Lender Cure If Borrower, the Administrative Agent, the Swingline Lender and the Issuing Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Advances to be held pro rata by the Lenders in accordance with the 5-Year Commitments under the applicable facility (without giving effect to [Subsection 15.30.1(d)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative Agent, the 5">Swingline Lender5">Issuing Lenders and the 7">Issuing7">Swingline Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 9">cash collateral)9">Cash Collateral), 11">that11">such Lender will, to the extent applicable, purchase at par13"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 15">Advances15">Loans to be held pro rata by the Lenders in accordance with the 17">5-Year Commitments under the applicable 19">facility19">Credit Facility (without giving effect to 21">[Subsection 15.30.1(d)21">[Section 5.15(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of23"> the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative Agent, the 5">Swingline5">Issuing Lender and the 7">Issuing7">Swingline Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 9">cash collateral)9">Cash Collateral), 11">that11">such Lender will, to the extent applicable, purchase at par13"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 15">Advances15">Loans to be held pro rata by the Lenders in accordance with the 17">5-Year Commitments under the applicable 19">facility19">Credit Facility (without giving effect to 21">[Subsection 15.30.1(d)21">[Section 4.15(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of23"> the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Administrative Borrower, the Administrative Agent, the Swingline Lender and the Issuing 5">Lender5">Banks agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 7">cash collateral)7">Cash Collateral), that Lender will, to the extent applicable, purchase at par9"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 11">Advances11">Loans to be held pro rata by the Lenders in accordance with the 13">5-Year13">applicable Commitments15"> under the applicable facility (without giving effect to 17">[Subsection 15.30.1(d)17">[Section 2.26(b)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of 19">Borrower19">the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative Agent, the 5">Swingline Lender5">Issuing Lenders and the 7">Issuing7">Swingline Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 9">cash collateral)9">Cash Collateral), 11">that11">such Lender will, to the extent applicable, purchase at par13"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 15">Advances15">Loans to be held pro rata by the Lenders in accordance with the 17">5-Year17">Revolving Credit Commitments19"> under the applicable facility (without giving effect to 21">[Subsection 15.30.1(d)21">[Section 4.15(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; 23">provided that23">provided, that, no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of 25">the Borrower while that Lender was a Defaulting Lender; and provided, further, 27">that27">that, except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to29"> Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative Agent, the Swingline Lender and the 5">Issuing Lender5">L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 7">cash collateral)7">Cash Collateral), that Lender will, to the extent applicable, purchase at par9"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 11">Advances11">Loans to be held pro rata by the Lenders in accordance with 13">the 5-Year13">their Revolving Commitments15"> under the applicable facility (without giving effect to 17">[Subsection 15.30.1(d)17">[Section 2.15(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of19"> the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative Agent, the Swingline Lender and the 5">Issuing Lender5">L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 7">cash collateral)7">Cash Collateral), that Lender will, to the extent applicable, purchase at par9"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 11">Advances11">Loans to be held pro rata by the Lenders in accordance with 13">the 5-Year13">their Revolving Commitments15"> under the applicable facility (without giving effect to 17">[Subsection 15.30.1(d)17">[Section 2.15(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; 19">provided that19">provided, that, no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of 21">the Borrower while that Lender was a Defaulting Lender; and provided, further, 23">that23">that, except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If 3">Borrower,3">the Borrowers, the Administrative Agent, the Swingline Lender and the Issuing Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 5">cash collateral)5">Cash Collateral), that Lender will, to the extent applicable, purchase at par7"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 9">Advances9">Loans to be held pro rata by the Lenders in accordance with 11">the 5-Year Commitments under the applicable facility11">their Revolving Commitment Percentages (without giving effect to 13">[Subsection 15.30.1(d)13">[Section 3.17(a)(iv)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of 15">Borrower15">the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If 3">Borrower,3">the Borrowers, the Administrative Agent, the Swingline Lender and the Issuing 5">Lender5">Bank agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 7">cash collateral)7">Cash Collateral), that Lender will, to the extent applicable, purchase at par9"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 11">Advances11">Loans to be held pro rata by the Lenders in accordance with 13">the 5-Year Commitments under the applicable facility (without13">their respective Revolving Credit Commitment Percentages (determined without giving effect to 15">[Subsection 15.30.1(d)15">the immediately preceding [subsection (d)]), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of 17">Borrower17">the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative 5">Agent,5">Agent and the Swingline Lender and the Issuing 7">Lender7">Bank agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, 9">whereupon9">whereupon, as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 11">cash collateral)11">Cash Collateral), that Lender will, to the extent applicable, purchase at par13"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 15">Advances15">Loans to be held pro rata by the Lenders in accordance with the 17">5-Year17">Revolving Commitments19"> under the applicable facility (without giving effect to 21">[Subsection 15.30.1(d)])21">clause (a)(iv) above), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of23"> the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Defaulting Lender 1">Cure1">Cure. If3"> the Borrower, the Administrative 5">Agent,5">Agent and the Swingline Lender and the Issuing 7">Lender7">Bank agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, 9">whereupon9">whereupon, as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any 11">cash collateral)11">Cash Collateral), that Lender will, to the extent applicable, purchase at par13"> (and reimburse any Lender for its Funding Losses attributable to such purchase) that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline 15">Advances15">Loans to be held pro rata by the Lenders in accordance with the 17">5-Year17">Revolving Commitments19"> under the applicable facility (without giving effect to 21">[Subsection 15.30.1(d)])21">clause (a)(iv) above), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of23"> the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

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