Common use of Deductions by Administrative Agent Clause in Contracts

Deductions by Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.1(b), 2.2(e), 2.6(b), 2.15 or 9.5(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender for the benefit of the Administrative Agent, the applicable Swingline Lender or the L/C Issuer, as applicable, to satisfy such Lender’s obligations to the Administrative Agent, such Swingline Lender and L/C Issuer until all such unsatisfied obligations are fully paid or (ii) hold any such amounts in a segregated account as cash collateral for, and for application to, any future funding obligations of such Lender under any such Section, in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

Deductions by Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.1(b2.04(c), 2.2(e2.05(c), 2.6(b2.06(b), 2.15 2.16 or 9.5(c)8.06, then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender for the benefit of the Administrative Agent, the applicable Swingline Lender or the applicable L/C Issuer, as applicable, to satisfy such Lender’s obligations to the Administrative Agent, such Swingline Lender and such L/C Issuer until all such unsatisfied obligations are fully paid or and/or (ii) hold any such amounts in a segregated account as cash collateral for, and for application to, any future funding obligations of such Lender under any such Section, in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

Deductions by Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.1(b2.04(c), 2.2(e2.05(e), 2.6(b)2.06, 2.15 or 9.5(c9.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender for the benefit of the Administrative Agent, the applicable Swingline Lender or the L/C Issuerapplicable Issuing Bank, as applicable, to satisfy such Lender’s obligations to the Administrative Agent, such Swingline Lender and L/C Issuer such Issuing Bank, as applicable, until all such unsatisfied obligations are fully paid or (ii) hold any such amounts in a segregated account as cash collateral for, and for application to, any future funding obligations of such Lender under any such Section, in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.