Example ContractsClausesDefaulting Lenders
Defaulting Lenders
Defaulting Lenders contract clause examples
Previous results

Defaulting Lenders Assignments. In connection with any assignment of rights and obligations of any Defaulting hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative in an aggregate amount sufficient,

In order to administer the Credit Facility in an efficient manner and to minimize the transfer of funds between Administrative Agent and Lenders , Administrative Agent may, at its option, subject to the terms of this Section, make available, on behalf of Lenders, including the Swing Line Lender, the full amount of the Loans requested or charged to any Borrower’s loan account(s) or otherwise to be advanced by Lenders pursuant to the terms hereof, without requirement of prior notice to Lenders of the proposed Loans.

For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Lenders or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender's Commitments will be reduced by the amount of its Available Commitment.

IF " DOCVARIABLE "SWDocIDLocation" 1" = "1" " DOCPROPERTY "SWDocID" US 172801506" "" US 172791558

Notwithstanding anything to the contrary contained herein, in the event any [[Organization C:Organization]] is a Defaulting [[Organization C:Organization]], all rights and obligations hereunder of such Defaulting [[Organization C:Organization]] and of the other parties hereto shall be modified to the extent of the express provisions of this [Section 2.21] so long as such [[Organization C:Organization]] is a Defaulting [[Organization C:Organization]].

Notwithstanding any provision of this Agreement to the contrary, if any Bank becomes a Defaulting Bank, then the following provisions shall apply for so long as such Bank is a Defaulting Bank:

Defaulting Lender. (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender:

in the event of the other Party:

has occurred and is continuing at the time of such reallocation, # the sum of all non-Defaulting Lenders’ Revolving Credit Exposures plus such LC Exposure of such Defaulting Lender’s does not exceed the total of all non-Defaulting Lenders’ Commitments and # each non-Defaulting Lender’s Revolving Credit Exposure does not exceed such non-Defaulting Lender’s Commitment;

such Defaulting Lender's Swing Loan Exposure and Letter of Credit Exposure shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Pro Rata Shares but only to the extent # the sum of all Non-Defaulting Lenders' Revolving Loan Exposures plus such Defaulting Lender's Swing Loan Exposure and Letter of Credit Exposure does not exceed the total of all Non-Defaulting Lenders' Revolver Commitments and # the conditions set forth in [Section 3.2] are satisfied at such time;

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.