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 pursuant to Section 2.05(a), Section 2.07(d), Section 2.07(e), Section 4.02 or otherwise hereunder then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretion. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives any payment in respect of principal of a Loan or reimbursement of an LC Disbursement while one or more Defaulting Lenders is a party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage of all Loans then outstanding. After acceleration or maturity of the Loans, all principal will be applied ratably as provided in Section 10.02(c).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a2.05(b), Section 2.07(d), Section 2.07(e), Section 4.02 2.08(c) or Section 4.02, or otherwise hereunder hereunder, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage of all Loans then outstanding. After acceleration or maturity of the Loans, all principal will be applied paid ratably as provided in Section 10.02(c).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a2.06(a), Section 2.07(d2.09(d), Section 2.07(e)2.09(e) or Section 4.02, Section 4.02 or otherwise hereunder hereunder, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Term Loan Percentage of all the Term Loans and Applicable Revolving Credit Percentage of the Revolving Loans then outstanding, as applicable. After acceleration or maturity of the Loans, all principal will be applied paid ratably as provided in Section 10.02(c10.03(c).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a)2.01, Section 2.07(d), Section 2.07(e), 2.04(a) or Section 4.02 or otherwise hereunder then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage of all Loans then outstanding. After acceleration or maturity of the Loans, all principal will be applied paid ratably as provided in Section 10.02(c).. [Credit Agreement]

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a), Section 2.07(d2.08(d), Section 2.07(e)2.08(e) or Section 4.02, Section 4.02 or otherwise hereunder hereunder, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Term Loan Percentage of all Term Loans and Applicable Revolving Credit Percentage of all Revolving Loans then outstanding, as applicable. After acceleration or maturity of the Loans, all principal will be applied ratably paid as provided in Section 10.02(c10.02(b).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a2.05(b), Section 2.07(d), Section 2.07(e), or Section 4.02 4.02, or otherwise hereunder hereunder, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage (without giving effect to Section 2.09(a)(iv)) of all Loans then outstanding. After acceleration or maturity of the Loans, all principal will be applied paid ratably as provided in Section 10.02(c).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a), Section 2.07(d2.08(d), Section 2.07(e)2.08(e) or Section 4.02, Section 4.02 or otherwise hereunder hereunder, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionpaid. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Term Loan Percentage of all Term Loans and Applicable Revolving Credit Percentage of all Revolving Loans then outstanding, as applicable. After acceleration or maturity of the Loans, all principal will be applied ratably paid as provided in Section 10.02(c).

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(aSections 2.01, 2.02(e), Section 2.07(d2.10(d), Section 2.07(e2.14(b), Section 4.02 or otherwise hereunder 2.14(c) then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder under such Sections until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretionshall promptly provide written notice to the Borrower of any such application of amounts. If at any time prior to the acceleration or maturity of the LoansRevolving Advances, the Administrative Agent receives shall receive any payment in respect of principal of a Loan Revolving Advance or a reimbursement of an LC Disbursement Letter of Credit Obligations while one or more Defaulting Lenders is a shall be party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any satisfy such Defaulting Lender has failed Lender’s obligations to fund its pro rata share Pro Rata Share of any Borrowings until such time as such Borrowing(s) unsatisfied obligations are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage Pro Rata Share of all Loans Revolving Advances then outstanding. After acceleration or maturity of the LoansRevolving Advances, all principal will be applied paid ratably as provided in Section 10.02(c)7.06.

Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(a), Section 2.07(d), Section 2.07(e), Section 4.02 or otherwise hereunder then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (a) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations hereunder until all such unsatisfied obligations are fully paid and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender hereunder, in the case of each of (a) and (b) above, in any order as determined by the Administrative Agent in its discretion. If at any time prior to the acceleration or maturity of the Loans, the Administrative Agent receives any payment in respect of principal of a Loan or reimbursement of an LC Disbursement while one or more Defaulting Lenders is a party to this Agreement, the Administrative Agent shall apply such payment first to the Borrowing(s) for which any such Defaulting Lender has failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable Percentage of all Loans then outstandingfull. After acceleration or maturity of the Loans, all principal will be applied ratably as provided in Section 10.02(c).