Common use of Defaulting Bank Cure Clause in Contracts

Defaulting Bank Cure. If the Company, the Administrative Agent and the Applicable Tranche Swingline Banks agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans and funded and unfunded participations in Applicable Tranche Swingline Loans to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Percentages (without giving effect to Section 2.11(a)(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the Company, the Administrative Agent and the Applicable Tranche Swingline Banks agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans and funded and unfunded participations in Applicable Tranche Swingline Loans to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Percentages (without giving effect to Section 2.11(a)(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the CompanyBorrowers, the Administrative Agent and the Applicable Tranche Swingline Swing Banks agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any Cash Collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Credit Loans and funded and unfunded participations in Applicable Tranche Swingline Swing Loans to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Commitment Percentages (without giving effect to Section 2.11(a)(iv2.13.1(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company Borrowers while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the CompanyBorrower Representative, the Administrative Agent Agent, the Swingline Bank and the Applicable Tranche Swingline Banks Issuing Bank agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any Cash Collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans and funded and unfunded participations in Applicable Tranche Letters of Credit and Swingline Loans to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Revolving Commitment Percentages (without giving effect to Section 2.11(a)(iv3.18(a)(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company Borrowers while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the Company, the Administrative Agent Agent, and the Applicable Tranche Swingline Issuing Banks agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any Cash Collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans Advances of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans A Advances and funded and unfunded participations in Applicable Tranche Swingline Loans Letters of Credit to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with according to their Applicable Percentages (without giving effect to Section 2.11(a)(iv2.24(a)), in the case of Letters of Credit, whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, provided further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the CompanyBorrower, the Administrative Agent and the Applicable Tranche Swingline Banks L/C Issuer agree in writing in their sole discretion that a Defaulting Bank should is no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any Cash Collateral), that Bank will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary in order for such Bank to cause the Applicable Tranche Revolving Loans hold such loans and funded and unfunded participations in Applicable Tranche Swingline Loans to be held on a pro rata basis by the Banks in the Applicable Tranche Letters of Credit ratably in accordance with their Applicable Percentages its Commitment (or, if the Total Commitments have terminated, as last in effect) (without giving effect to clause (a)(iv) of this Section 2.11(a)(iv)2.08), whereupon that such Bank will cease to shall no longer be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company Borrower while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the CompanyRyder, the Administrative Agent applicable Agents, the applicable Swing Line Lenders and the Applicable Tranche Swingline Banks Issuing Bank, if applicable, agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative applicable Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any Cash Collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent applicable Agents may determine to be necessary to cause the Applicable Tranche Revolving Loans and funded and unfunded participations in Applicable Tranche Swingline Letters of Credit and applicable Swing Line Loans to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Commitment Percentages (without giving effect to Section 2.11(a)(iv§2.16(a)(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company applicable Borrower while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the CompanyBorrower, the Administrative Agent and the Applicable Tranche Swingline Banks each Issuing Bank agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth thereintherein (which may include arrangements with respect to any cash collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans Advances and LC Exposure of the other Banks in each Applicable Tranche participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans applicable Advances and funded and unfunded participations in Applicable Tranche Swingline Loans LC Exposure to be held on a pro rata basis by the Banks in the Applicable Tranche in accordance with their Applicable Percentages (without giving effect to Section 2.11(a)(iv))respective applicable Commitment, whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company Borrower while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s Bank having been a Defaulting Bank.

Defaulting Bank Cure. If the Company, the Administrative Agent and the Applicable Tranche MC Swingline Banks (in the case of a Defaulting Bank which is an MC Bank) and the USD Swingline Banks (in the case of a Defaulting Bank which is a USD Bank) agree in writing in their sole discretion that a Defaulting Bank should no longer be deemed to be a Defaulting Bank, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks in each Applicable Tranche the applicable Facility participated in by such Defaulting Bank at par or take such other actions as the Administrative Agent may determine to be necessary to cause the Applicable Tranche Revolving Loans and funded and unfunded participations in Applicable Tranche Swingline Loans in the applicable Facility to be held on a pro rata basis by the Banks in the Applicable Tranche applicable Facility in accordance with their Applicable Percentages (without giving effect to Section 2.11(a)(iv)), whereupon that Bank will cease to be a Defaulting Bank; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that Bank was a Defaulting Bank (and the Company shall not be required to pay any such fees or payments to such Bank which were not required to have been paid to such Bank while it was a Defaulting Bank); and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that Bank’s having been a Defaulting Bank.