Common use of Certain Deductions by the Administrative Agent Clause in Contracts

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder until all such unsatisfied obligations are fully paid.

Appears in 2 contracts

Samples: Credit Agreement (Petersen Energia Inversora, S.A.), Credit Agreement (Petersen Energia, S.A.)

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Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender for the benefit of the Administrative Agent or the applicable Issuing Lender(s) to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 2 contracts

Samples: Secured Credit Agreement (Xl Group LTD), Unsecured Credit Agreement (Xl Group LTD)

Certain Deductions by the Administrative Agent. If any Lender Bank shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.17(d), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender Bank to satisfy such LenderBank’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 2 contracts

Samples: Credit Agreement (Aes Corp), Credit Agreement (Aes Corp)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, ARTICLE II or Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Second Lien Term Credit Agreement (Sanchez Energy Corp)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, Section 2.05(a) or Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s 's obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Term Loan Agreement (Vanguard Natural Resources, LLC)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.20(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Xl Capital LTD)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSections 2.05 or 3.05, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Intelsat LTD)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations hereunder under such Section until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (McMoran Exploration Co /De/)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.11(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Xl Capital LTD)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, Section 2.05 or Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Letter of Credit Facility Agreement (Black Elk Energy Finance Corp.)

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Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.11(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder under such Section 2.11(e) until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Herbst Gaming, LLC)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement, Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s 's obligations hereunder under such Sections until all such unsatisfied obligations are fully paid. After acceleration or maturity of the Loans, all principal shall be paid ratably as provided in Section 10.06.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Abraxas Petroleum Corp)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.05 (b) or Section 4.02 , then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Senior Term Loan Agreement (McMoran Exploration Co /De/)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement8 or 2, 6 or 6, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent hereunder for the account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Sinclair Broadcast Group Inc)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.11(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s 's obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Term Loan Agreement (Chart Industries Inc)

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this AgreementSection 2.14(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid.

Appears in 1 contract

Samples: Credit Agreement (Xl Capital LTD)

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