Common use of Deductions by Administrative Agent Clause in Contracts

Deductions by Administrative Agent. If any Lender (other than the Initial Lender) shall fail to make any payment required to be made by it pursuant to Section 2.13 or 11.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof,

Deductions by Administrative Agent. If any Lender (other than the Initial Lender) shall fail to make any payment required to be made by it pursuant to Section 2.13 2.05(d) or 11.03(c2.05(e), 2.06(b) or 2.18(d), then the Administrative Agent may, in its discretion and (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 under such Sections until all such unsatisfied obligations are fully paid.