Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan. (ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder. (iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 6 contracts
Samples: Loan and Servicing Agreement (DT Acceptance Corp), Loan and Servicing Agreement (DT Acceptance Corp), Loan and Servicing Agreement (DT Credit Company, LLC)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, or if there is no Conduit Lender in a Lender Group, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender (except as set forth in Section 2.02(e) following delivery of a Funding Delay Notice) shall be made by the related Committed Lenders in its such Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Amortization Date (except as set forth in Section 2.02(e) following delivery of a Funding Delay Notice) or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 6 contracts
Samples: Receivables Loan Agreement (Hilton Grand Vacations Inc.), Receivables Loan Agreement, Sale and Contribution Agreement, Servicing Agreement (Hilton Grand Vacations Inc.), Receivables Loan Agreement and Sale and Contribution Agreement (Hilton Grand Vacations Inc.)
Committed Lender’s Commitment. (i) If a Conduit Lender in a Lender Group rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, or if there is no Conduit Lender in a Lender Group, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by applicable to such Conduit Lender shall be made by the related Committed Lenders in its such Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus minus, if applicable, (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 6 contracts
Samples: Loan and Servicing Agreement (DT Credit Company, LLC), Loan and Servicing Agreement (DT Credit Company, LLC), Loan and Servicing Agreement (DT Credit Company, LLC)
Committed Lender’s Commitment. (i) If a Class A Revolving Conduit Lender rejects a Borrowing Request Funding Notice and the Borrower Company has not cancelled such Borrowing Request Funding Notice in accordance with clause (bSection 2.1(f) above, or if there is no Class A Revolving Conduit Lender in a Class A Revolving Lender Group, any Class A Revolving Loan requested by the Borrower Company in such Borrowing Request that would otherwise be made by such Conduit Lender Funding Notice shall be made by the related Class A Revolving Committed Lenders in its such Class A Lender Group on a pro rata basis in accordance with their respective Committed Lender Pro Rata Shares Share of such Class A Revolving Loan.
(ii) The obligations of any Class A Revolving Committed Lender to make Class A Revolving Loans hereunder are several from the obligations of any other Class A Revolving Committed Lenders (whether or not in the same Class A Lender Group). The failure of any Class A Revolving Committed Lender to make Class A Revolving Loans hereunder shall not release the obligations of any other Class A Revolving Committed Lender (whether or not in the same Class A Lender Group) to make Loans hereunder, but no Class A Revolving Committed Lender shall be responsible for the failure of any other Class A Revolving Committed Lender to make any Class A Revolving Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Class A Revolving Committed Lender shall not be obligated to fund any Class A Revolving Loan at any time on or after the Termination Date or if, after giving effect to such Class A Revolving Loan, the aggregate outstanding Class A Revolving Loans funded by such Class A Revolving Committed Lender hereunder would exceed an amount equal to (i) such Class A Revolving Committed Lender’s Commitment, minus (ii) such Class A Revolving Committed Lender’s ratable share of the aggregate outstanding principal balance of the Class A Revolving Loans held by the Class A Revolving Conduit Lender(s) in such Class A Revolving Committed Lender’s Class A Lender Group.
Appears in 5 contracts
Samples: Credit Agreement (On Deck Capital, Inc.), Credit Agreement (On Deck Capital, Inc.), Credit Agreement (On Deck Capital Inc)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus Commitment less (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 3 contracts
Samples: Loan and Servicing Agreement (Tampa Electric Co), Loan and Servicing Agreement (Newell Rubbermaid Inc), Loan and Servicing Agreement (Teco Energy Inc)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by Credit Exposure of such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) including such Committed Lender’s ratable share of the aggregate outstanding principal balance Principal Balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.Group hereunder would exceed such Committed Lender’s Commitment
Appears in 3 contracts
Samples: Loan and Servicing Agreement (Newell Brands Inc.), Loan and Servicing Agreement (Newell Brands Inc), Loan and Servicing Agreement (Newell Brands Inc)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan; provided, however, that during the Term Period, if any, each Committed Lender in the applicable Lender Group shall, at least two Business Days prior to the date of such Borrowing, instruct the Program Agent, to wire (or otherwise transfer in immediately available funds) on the date of such Borrowing to the Borrower at the account specified by the Borrower such Committed Lenders’ Pro Rata Share of the amount of the Borrowing to be made by its Lender Group out of the funds available therefor in the Collateral Advance Account.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus Commitment less (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 2 contracts
Samples: Loan and Servicing Agreement (Puget Energy Inc /Wa), Loan and Servicing Agreement (Puget Sound Energy Inc)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and Request, or if the Borrower Conduit Lender Termination Date has not cancelled such Borrowing Request in accordance with clause (b) aboveoccurred for a Conduit Lender, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loanthereto, the aggregate outstanding principal balance of the Loans funded by such Committed Lender hereunder (in Dollars or the Dollar Equivalent) would exceed an amount equal to (i) such Committed Lender’s Commitment, minus 's Commitment divided by 1.02 less (ii) such Committed Lender’s 's ratable share of the aggregate outstanding principal balance of the Loans (in Dollars or the Dollar Equivalent) held by the Conduit Lender(s) Lender in such Committed Lender’s 's Lender Group.
Appears in 2 contracts
Samples: Receivables Loan Agreement (TRW Automotive Inc), Receivables Loan Agreement (TRW Automotive Inc)
Committed Lender’s Commitment. At no time will any Conduit Lender (iunless it is a Committed Lender) have any obligation to fund a Loan. If a Conduit Lender rejects has failed for whatever reason to fund its portion of a Borrowing Request and in full, all Loans shall be made by the Borrower has not cancelled such Committed Lenders of the same Lender Group on the requested date of Borrowing Request in accordance with clause Section 2.5. At any time when a Conduit Lender has rejected a request for a Loan (b) above, it being understood that if a Conduit Lender does not fund any Loan requested by in relation to which all of the Borrower conditions precedent set forth in such Borrowing Section 6.2 have been satisfied on the date set forth in the applicable Request that would otherwise be made by for Borrowing, such Conduit Lender shall be made by deemed to have rejected the related request for Loan), the Managing Agent of such Conduit Lender shall so notify the Committed Lenders in its of the same Lender Group as such Conduit Lender and such Committed Lenders shall make such Loan, on a pro rata basis basis, in accordance with their respective Committed Lender Pro Rata Shares Share. The obligation of such Loan.
(ii) The obligations of any each Committed Lender to make Loans hereunder are remit its Committed Lender Pro Rata Share of any such Loan requested of its Lender Group shall be several from the obligations that of any each other Committed Lenders (whether or not in Lender, and the same Lender Group). The failure of any Committed Lender to so make Loans hereunder such amount available to the Administrative Agent or a Borrower, as applicable, shall not release the obligations of relieve any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan its obligation hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Crescent Capital BDC, Inc.), Revolving Credit Agreement (Crescent Capital BDC, Inc.)
Committed Lender’s Commitment. (i) If a Non-Committed Conduit Lender rejects a an Incremental Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) aboveRequest, any Loan requested by the Borrower in such Incremental Borrowing Request that would otherwise be made by such Non-Committed Conduit Lender shall be made by the related Committed Backstop Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunderhereunder other than for Committed Lenders in its same Lender Group as described in Clause 2.1 (The Loans).
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Facility Termination Date Date, at any time a Facility Event exists or would exist after making such Loan, or if, after giving effect to such Loanthereto, the aggregate outstanding principal balance of the Loans funded by such Committed Lender hereunder would exceed an amount equal to (iA) such Committed Lender’s Commitment, minus Commitment less (iiB) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the each Conduit Lender(s) Lender and Committed Lender in such Committed Lender’s Lender Group.
Appears in 1 contract
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, or if there is no Conduit Lender in a Lender Group, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its such Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Amortization Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 1 contract
Samples: Receivables Loan Agreement (Hilton Worldwide Holdings Inc.)
Committed Lender’s Commitment. At no time will any Uncommitted Lender have any obligation to fund an Advance. At all times on and after the Conduit Advance
(a) The Borrower may, at any time prior to the date that is thirty (30) days prior to the last day of the Revolving Period, request an extension of the Revolving Period by providing written notice of such request to each Agent and to the Facility Agent (an “Extension Request”). Any Lender Group agreeing to extend the Revolving Period with respect to its Commitment (each, an “Extending Lender Group”) shall, through its Agent, provide written notice of its agreement to extend the Revolving Period to the Facility Agent and the Borrower. No Lender Group shall have any obligation to agree to extend the Revolving Period with respect to its Commitment; and in the event any Agent, on behalf of its Lender Group, shall not provide written notice of its agreement to extend the Revolving Period within thirty (30) days following its receipt of the Extension Request, such Lender Group shall be deemed to have rejected such Extension Request (each, a “Non-Extending Lender Group”). The Borrower may withdraw any Extension Request in its sole discretion prior to the effectiveness of such extension, including without limitation in connection with any rejection or deemed rejection by any Agent (on behalf of its Lender Group) of any Extension Request.
(b) In the event there shall be one or more Non-Extending Lender Groups, the Borrower may, in accordance with Section 2.6, (i) If a Conduit Lender rejects a Borrowing Request by notice to the Facility Agent and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) aboveAgent for each Extending Lender Group, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its invite each Extending Lender Group on to increase their Commitment by purchasing a pro rata basis in accordance with their respective Pro Rata Shares amount of such Loan.
the Non-Extending Lender Group’s Commitment, (ii) The obligations invite one or more financial institutions to purchase the Commitments of any Committed the Non-Extending Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether Group(s) and become a “Lender” under this Agreement or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to have the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Non-Extending Lender Group’s Commitment terminated.
Appears in 1 contract
Samples: Receivables Financing Agreement (TriplePoint Venture Growth BDC Corp.)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and Request, or if the Borrower Conduit Lender Termination Date has not cancelled such Borrowing Request in accordance with clause (b) aboveoccurred for a Conduit Lender, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loanthereto, the aggregate outstanding principal balance of the Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus 's Commitment divided by 1.02 less (ii) such Committed Lender’s 's ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) Lender in such Committed Lender’s 's Lender Group.
Appears in 1 contract
Samples: Receivables Loan Agreement (TRW Automotive Holdings Corp)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan; provided, however, that during the Term Period, if any, each Committed Lender shall, at least two Business Days prior to the date of such Borrowing, instruct the Program Agent, to wire (or otherwise transfer in immediately available funds) on the date of such Borrowing to the Borrower at the account specified by the Borrower such Committed Lenders' Pro Rata Share of the amount of the Borrowing to be made by its Lender Group out of the funds available therefor in the Collateral Advance Account.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus 's Commitment less (ii) such Committed Lender’s 's ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s 's Lender Group.
Appears in 1 contract
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender shall ACTIVE 200146376v.2 be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Date or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 1 contract
Samples: Loan and Servicing Agreement (Drivetime Automotive Group Inc)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Notice of Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) abovePledge, any Loan Advance requested by the Borrower in such Notice of Borrowing Request and Pledge that would otherwise be made by such Conduit Lender shall be made by the related Committed Lenders in its Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such LoanAdvance.
(ii) The obligations of any Committed Lender to make Loans Advances hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans Advances hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan Advance hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan Advance at any time on or after the Termination Date or if, after giving effect to such LoanAdvance, the aggregate outstanding Loans Advances funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus Commitment less (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans Advances held by the Conduit Lender(s) in such Committed Lender’s Lender Group.
Appears in 1 contract
Samples: Loan and Security Agreement (Medallion Financial Corp)
Committed Lender’s Commitment. (i) If a Conduit Lender rejects a Borrowing Request and the Borrower has not cancelled such Borrowing Request in accordance with clause (b) above, or if there is no Conduit Lender in a Lender Group, any Loan requested by the Borrower in such Borrowing Request that would otherwise be made by such Conduit Lender (except as set forth in Section 2.02(e) following delivery of a Funding Delay Notice) shall be made by the related Committed Lenders in its such Lender Group on a pro rata basis in accordance with their respective Pro Rata Shares of such Loan.
(ii) The obligations of any Committed Lender to make Loans hereunder are several from the obligations of any other Committed Lenders (whether or not in the same Lender Group). The failure of any Committed Lender to make Loans hereunder shall not release the obligations of any other Committed Lender (whether or not in the same Lender Group) to make Loans hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan hereunder.
(iii) Notwithstanding anything herein to the contrary, a Committed Lender shall not be obligated to fund any Loan at any time on or after the Termination Amortization Date (except as set forth in Section 2.02(e) following delivery of a Funding Delay Notice) or if, after giving effect to such Loan, the aggregate outstanding Loans funded by such Committed Lender hereunder would exceed an amount equal to (i) such Committed Lender’s Commitment, minus (ii) such Committed Lender’s ratable share of the aggregate outstanding principal balance of the Loans held by the Conduit Lender(s) in such Committed Lender’s Lender Group.”
1. 5 Section 2.02(d) of the Receivables Loan Agreement is amended and restated in its entirety as follows:
Appears in 1 contract
Samples: Receivables Loan Agreement (Hilton Worldwide Holdings Inc.)