Affected Lender Sample Clauses
The 'Affected Lender' clause defines a lender within a syndicated loan agreement who is unable to fulfill its obligations due to specific circumstances, such as changes in law, regulatory requirements, or financial incapacity. In practice, this clause identifies which lender is impacted and outlines the procedures for notifying the borrower and other lenders, as well as the potential consequences, such as suspension of commitments or replacement of the affected lender. Its core function is to ensure the smooth operation of the loan facility by providing a clear process for addressing situations where a lender cannot perform, thereby minimizing disruption and allocating risk appropriately among the parties.
Affected Lender. Notwithstanding the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Affected Lender or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Eurodollar Loans, the Administrative Agent shall give effect thereto in apportioning payments received thereafter.
Affected Lender. See §4.14.
Affected Lender. See §5.11.
Affected Lender. To the extent that Agent receives any payments or other amounts for the account of an Affected Lender, at the discretion of Agent, such Affected Lender shall be deemed to have requested that Agent use such payment or other amount (or any portion thereof, at the discretion of Agent) first, to cash collateralize its unfunded risk participation in Swing Loans and the Letters of Credit pursuant to Sections 2.2(b)(iv), 2.2(c)(iii), and 2.5(b) hereof, and, with respect to any Defaulting Lender, second, to fulfill its obligations to make Loans.
Affected Lender. (i) To the extent that Agent receives any payments of commitment fees pursuant to Section 2.8(a) hereof for a period when a Lender is a Defaulting Lender, Agent shall hold such Defaulting Lender’s share of such commitment fees pending resolution of any issues surrounding the status of such Lender as a Defaulting Lender, and, if, after a period of thirty (30) days after such Lender becomes a Defaulting Lender, such Lender shall continue to be a Defaulting Lender, then Agent shall return to Borrower such fees being so held by Agent. Thereafter, Borrower need not pay commitment fees on such Defaulting Lender’s portion of the Revolving Credit Commitment until such time as Agent gives notice to Borrower that such Defaulting Lender is no longer a Defaulting Lender or, if earlier, a Replacement Lender has been obtained pursuant to Section 11.12 hereof with respect to the interest of such Defaulting Lender.
(ii) To the extent that Agent receives any other payments or other amounts for the account of an Affected Lender, at the option of Agent or Borrower, such Affected Lender shall be deemed to have requested that Agent use such payment or other amount (or any portion thereof, at the discretion of Agent) first, to cash collateralize its unfunded risk participation in Swing Loans and the Letters of Credit pursuant to Sections 2.2(b)(vi), 2.2(c)(iii), and 2.5(b) hereof, and, with respect to any Defaulting Lender, second, to fulfill its obligations to make Loans.
Affected Lender. See §18.8.
Affected Lender. Following a demand by the Administrative Agent or a Managing Agent (whether on behalf of a Lender (an “Affected Lender”), its related Program Support Provider or any other Affected Party in such Affected Lender’s Lender Group) for payment of any amounts under Section 2.09, the Borrower may elect to replace such Affected Lender as a Lender party to this Agreement with an assignee Lender procured by the Borrower, provided that no Incipient Termination Event or Termination Event shall have occurred and be continuing at the time of such replacement; and provided further that, concurrently with such replacement, such assignee Lender shall agree to purchase for cash the Advances and all other rights of, and obligations due to, the Affected Lender hereunder pursuant to an Assignment Agreement and to become a Lender for all purposes under this Agreement and to assume all obligations of the Affected Lender to be terminated as of such date. Any such Affected Lender shall assign its rights and interests hereunder, such assignment to be effected in compliance with the requirements of Section 12.
Affected Lender. See Section 5.12.
Affected Lender. Notwithstanding the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Lender affected by circumstances contemplated under Section 2.15(b) or if any such Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Term SOFR Loans, the Administrative Agent shall give effect thereto in apportioning payments received thereafter.
Affected Lender. To the extent that Agent receives any payments or other amounts for the account of a Revolving Lender that is an Affected Lender, such Affected Lender shall be deemed to have requested that Agent use such payment or other amount to cash collateralize its unfunded risk participation in Swing Loans and the Letters of Credit pursuant to Sections 2.2(b)(vi) and 2.2(c)(iii) hereof.