Common use of Cure by Delinquent Lender Clause in Contracts

Cure by Delinquent Lender. A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 or paragraph (5) of Section 10.18), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders of its receipt of such funds. If Administrative Agent shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5) of Section 10.18), Administrative Agent shall, within one (1) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Administrative Agent shall have advanced the Delinquency Amount pursuant to Section 10.12 and Borrower shall not have refunded such advance pursuant to paragraph (5) of Section 10.18, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency Amount. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, in their sole discretion, elect to permit such cure.

Cure by Delinquent Lender. A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 7.12 or paragraph (5e) of Section 10.187.16), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5e) of Section 10.187.16), Administrative Agent shall, within one of the rescheduled date of the advance (1which shall be no sooner then three (3) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Days after such notice) or (B) if Administrative Agent shall have advanced funded the Delinquency Amount pursuant to Section 10.12 entire advance that was the subject of the delinquency (including the Delinquent Lender's portion) and Borrower shall not have refunded such advance pursuant to paragraph (5e) of Section 10.187.16, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent LendersLenders and Borrower, in their sole discretion, elect to permit such cure.

Cure by Delinquent Lender. A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 or paragraph (5e) of Section 10.187.16), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5e) of Section 10.187.16), Administrative Agent shall, within one of the rescheduled date of the advance (1which shall be no sooner then three (3) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Days after such notice) or (B) if Administrative Agent shall have advanced funded the Delinquency Amount pursuant to Section 10.12 entire advance that was the subject of the delinquency (including the Delinquent Lender's portion) and Borrower shall not have refunded such advance pursuant to paragraph (5e) of Section 10.187.16, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, Lenders in their sole discretion, discretion elect to permit such cure.

Cure by Delinquent Lender. (1) A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance Advance if, within the Election Period, it remits to Administrative Agent AGENT its required portion of such advance Advance (together with interest thereon at the Default Rate from the date such advance Advance was to have been made if such advance Advance was made by Administrative Agent AGENT and not refunded by Borrower BORROWER pursuant to either Section 10.12 or paragraph subsection (5a)(5) of this Section 10.18above), in which event Administrative Agent AGENT shall so notify Borrower BORROWER and the Non-LENDERS who are not Delinquent Lenders Lenders: (i) of its receipt of such funds. If Administrative Agent ; and (ii)(A) if the Advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower BORROWER pursuant to paragraph subsection (5a)(5) of this Section 10.18above), Administrative Agent shall, within one of the rescheduled date of the Advance (1which shall be no sooner than 3 Business Days after such notice) Business Day or (B) if AGENT shall have funded the entire Advance that was the subject of its receipt thereof from the delinquency (including the Delinquent Lender, advance the Delinquency Amount to Borrower. If Administrative Agent shall have advanced the Delinquency Amount pursuant to Section 10.12 's portion) and Borrower BORROWER shall not have refunded such advance pursuant to paragraph subsection (5a)(5) of this Section 10.18above, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the Advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Nonnon-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent AGENT and/or the Nonnon-Delinquent Lenders under, any of the Loan Document Documents or other documents or instruments referred to or provided for herein or therein which is made subsequent to that LenderLENDER's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; subsection, provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, LENDERS in their sole discretion, discretion elect to permit such cure. (2) If not previously satisfied directly by the Delinquent Lender, a Delinquent Lender shall also be deemed to have satisfied in full a delinquency when and if, as a result of application of the assigned payments to all Outstanding Advances and of the non-Delinquent Lenders (as set forth in subsection (a)(4) above), the LENDERS' respective Pro Rata Shares of all Outstanding Advances have returned to those in effect immediately prior to such delinquency and without giving effect to the nonpayment causing such delinquency, provided, however, that (i) any cure under this subsection (2) shall not reinstate the Delinquent Lender's right to participate in any discussions among and/or decisions by the LENDERS hereunder and/or under the other Loan Documents or other documents or instruments referred to or provided for herein or therein and (ii) the Delinquent Lender shall be bound by any amendment to, or waiver of, any provision of, or any action taken or omitted to be taken by AGENT and/or the non-Delinquent Lenders under, any of the Loan Documents or other documents or instruments referred to or provided for herein or therein which may be made subsequent to a satisfaction of any deficiency pursuant to this subsection (2).

Cure by Delinquent Lender. A Provided that no Replacement Lender has assumed the Delinquent Lender’s obligations pursuant to Section 10.20, Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, Advance if it remits to Administrative Agent (1) its required portion of such advance Advance (together with interest thereon at the Default Rate from the date such advance Advance was to have been made if such advance Advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 or paragraph Section 10.16(e)), and (52) an administrative fee, for Agent’s own account, in the amount of Section 10.18)$10,000 plus all of Agent’s reasonable costs and expenses (including, without limitation, attorneys’ fees) incurred in connection with such delinquency and cure, in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the Advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5) of Section 10.1810.16(e)), Administrative Agent shall, within one of the rescheduled date of the Advance (1which shall be no sooner then three (3) Business Day Days after such notice) or (B) if Agent shall have funded the entire Advance that was the subject of its receipt thereof from the delinquency (including the Delinquent Lender, advance the Delinquency Amount to Borrower. If Administrative Agent shall have advanced the Delinquency Amount pursuant to Section 10.12 ’s portion) and Borrower shall not have refunded such advance Advance pursuant to paragraph (5) of Section 10.1810.16(e), Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender’s required portion of the Advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders)delinquency, such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's ’s becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after if a Replacement Lender has assumed the expiration of the Election Period unless all Non-Delinquent Lenders, in their sole discretion, elect Lender’s obligations pursuant to permit such cureSection 10.20.

Cure by Delinquent Lender. A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 7.12 or paragraph (5e) of Section 10.187.16), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5e) of Section 10.187.16), Administrative Agent shall, within one of the rescheduled date of the advance (1which shall be no sooner then three (3) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Days after such notice) or (B) if Administrative Agent shall have advanced funded the Delinquency Amount pursuant to Section 10.12 entire advance that was the subject of the delinquency (including the Delinquent Lender's portion) and Borrower shall not have refunded such advance pursuant to paragraph (5e) of Section 10.187.16, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, in their sole discretion, elect to permit such cure.

Cure by Delinquent Lender. (1) A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance Advance if, within the Election Period, it remits to Administrative Agent AGENT its required portion of such advance Advance (together with interest thereon at the Default Rate from the date such advance Advance was to have been made if such advance Advance was made by Administrative Agent AGENT and not refunded by Borrower BORROWER pursuant to either Section 10.12 or paragraph subsection (5a)(5) of this Section 10.18above), in which event Administrative Agent AGENT shall so notify Borrower BORROWER and the Non-LENDERS who are not Delinquent Lenders Lenders: (i) of its receipt of such funds. If Administrative Agent ; and (ii)(A) if the Advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower BORROWER pursuant to paragraph subsection (5a)(5) of this Section 10.18above), Administrative Agent shall, within one of the rescheduled date of the Advance (1which shall be no sooner than 3 Business Days after such notice) Business Day or (B) if AGENT shall have funded the entire Advance that was the subject of its receipt thereof from the delinquency (including the Delinquent Lender, advance the Delinquency Amount to Borrower. If Administrative Agent shall have advanced the Delinquency Amount pursuant to Section 10.12 's portion) and Borrower BORROWER shall not have refunded such advance pursuant to paragraph subsection (5a)(5) of this Section 10.18above, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the Advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Nonnon-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent AGENT and/or the Nonnon-Delinquent Lenders under, any of the Loan Document Documents or other documents or instruments referred to or provided for herein or therein which is made subsequent to that LenderLENDER's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; subsection, provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, LENDERS in their sole discretion, discretion elect to permit such cure.

Cure by Delinquent Lender. A Delinquent Lender may cure ------------------------- a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 7.12 or paragraph (5e) of Section 10.187.16), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5e) of Section 10.187.16), Administrative Agent shall, within one of the rescheduled date of the advance (1which shall be no sooner then three (3) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Days after such notice) or (B) if Administrative Agent shall have advanced funded the Delinquency Amount pursuant to Section 10.12 entire advance that was the subject of the delinquency (including the Delinquent Lender's portion) and Borrower shall not have refunded such advance pursuant to paragraph (5e) of Section 10.187.16, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender's required portion of the advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or -------- waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, in their sole discretion, elect to permit such cure.

Cure by Delinquent Lender. A Delinquent Lender may cure a delinquency arising out of its failure to fund its required portion of any advance if, within the Election Period, it remits to Administrative Agent its required portion of such advance (together with interest thereon at the Default Rate from the date such advance was to have been made if such advance was made by Administrative Agent and not refunded by Borrower pursuant to either Section 10.12 or paragraph (5e) of Section 10.187.16), in which event Administrative Agent shall so notify Borrower and the Non-Delinquent Lenders (i) of its receipt of such funds. If Administrative Agent funds and (ii)(A) if the advance that was the subject of the delinquency shall not have advanced the Delinquency Amount from its own funds pursuant to Section 10.12 been made (or such advance shall have been made but shall have been refunded by Borrower pursuant to paragraph (5e) of Section 10.187.16), Administrative Agent shall, within one of the rescheduled date of the advance (1which shall be no sooner then three (3) Business Day of its receipt thereof from the Delinquent Lender, advance the Delinquency Amount to Borrower. If Days after such notice) or (B) if Administrative Agent shall have advanced funded the Delinquency Amount pursuant to Section 10.12 entire advance that was the subject of the delinquency (including the Delinquent Lender’s portion) and Borrower shall not have refunded such advance pursuant to paragraph (5e) of Section 10.187.16, Administrative Agent shall notify Borrower and each Lender of its intention to reimburse itself from funds received from the Delinquent Lender (which reimbursement is hereby authorized) for funding the Delinquency AmountDelinquent Lender’s required portion of the advance. In the event any Delinquent Lender cures a delinquency prior to the expiration of the Election Period (or thereafter with the consent of all of the Non-Delinquent Lenders), such Delinquent Lender nonetheless shall be bound by any amendment to or waiver of any provision of, or any action taken or omitted to be taken by Administrative Agent and/or the Non-Delinquent Lenders under, any Loan Document which is made subsequent to that Lender's ’s becoming a Delinquent Lender and prior to its curing the delinquency as provided in this Section; , provided that such amendment or waiver of action was taken in accordance with the provisions of this Agreement. A Delinquent Lender shall have absolutely no right to cure any delinquency after the expiration of the Election Period unless all Non-Delinquent Lenders, Lenders in their sole discretion, discretion elect to permit such cure.