Common use of Defaulting Bank Cure Clause in Contracts

Defaulting Bank Cure. If the Borrower Representative, each Agent, the Swingline Bank and 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 therein (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 or take such other actions as the Agents may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22, 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 Borrower Representative, each AgentBorrowers, the Swingline Bank Administrative Agent and each Issuing Bank the 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 therein (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 or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Revolving Credit Loans and funded and unfunded participations in Letters of Credit and Swingline Swing Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each AgentCompany, the Swingline Bank Administrative Agent and each Issuing Bank 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 agreed to by the Company, the Administrative Agent, each Issuer and such Bank set forth therein (which may include arrangements with respect to any Cash Collateral)in such notice, that such Bank will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Banks or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages the Commitments under the applicable Facility (without giving effect to Section 3.18(a)(iv2.18(a)(iv)), ) whereupon that such 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 Borrowers Company while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, no change hereunder from Defaulting Bank to 709152408 00000000 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 Borrower Representative, each Agent, and the Swingline Bank and each Issuing Bank Administrative Agent 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 therein (which may include arrangements with respect to any Cash Collateral)therein, that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks or will take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations appropriate in Letters of Credit and Swingline Loans connection with such Bank ceasing to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(a)(iv))Defaulting Bank, whereupon that such Bank will cease to be a Defaulting Bank; provided that (i) no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers Borrower while that Bank was a Defaulting BankBank and (ii) all amendments, waivers or modifications effected without its consent in accordance with the provisions of §17.2 and this §2.17.2 during such period shall be binding on it; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each AgentRyder, the Swingline Bank applicable Agents, the applicable Swing Line Lenders and each the Issuing Bank 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 therein (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 or take such other actions as the applicable Agents may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline applicable Swing Line Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(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 Borrowers applicable Borrower while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each the Administrative Agent, the Swingline Bank and 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 therein (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 or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22, 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 Borrower Representative, each Agent, and the Swingline Bank and each Issuing Bank Administrative Agent 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 whereupon, as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateralcash collateral), that such Bank will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Banks or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(a)(iv))respective Commitments, whereupon that such 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 Borrowers Borrower while that such Bank was a Defaulting Bank; and provided, further, that that, except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, no change hereunder from Defaulting Bank to Bank will constitute a waiver or release of any claim of any party hereunder arising from that such Bank’s having been a Defaulting Bank.

Defaulting Bank Cure. If the Borrower Representative, each AgentBorrowers, the Swingline Bank Agent and each Issuing Swing Line Bank 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 therein (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 Bank or take such other actions as the Agents Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Swing Loans to be held on a pro rata basis by the Banks Bank in accordance with their Revolving Commitment Percentages the Commitments (without giving effect to Section 3.18(a)(iv)2.10(a)(iv), whereupon that such 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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each AgentBorrowers, the Swingline Bank and each Issuing Bank Administrative Agent 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 (which may include arrangements with respect to any Cash Collateral)therein, that Bank will, to the extent applicable, purchase that portion of outstanding Loans of the other Banks or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Revolving Credit and Swingline Loans to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(a)(iv))Percentages, 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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each Borrowing Agent, the Swingline Administrative Agent and each Swing Loan Bank and each Issuing Bank 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 specified therein (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 or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Swing Loans to be held on a pro rata basis by the Banks in accordance with their the Commitments under the Revolving Commitment Percentages Credit Facility (without giving effect to Section 3.18(a)(iv))2.10(a)(iv) [Reallocation of Participations to Reduce Fronting Exposure], whereupon that such 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 Borrowers while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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 Borrower Representative, each Agent, and the Swingline Bank and each Issuing Bank Administrative Agent 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 (which may include arrangements with respect to any Cash Collateralcash collateral), that Bank will, to the extent applicable, purchase that portion of outstanding Loans Advances of the other Banks or take such other actions as the Agents Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans applicable Advances to be held on a pro rata basis by the Banks in accordance with their Revolving Commitment Percentages (without giving effect to Section 3.18(a)(iv))respective applicable Commitments, 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 Borrowers Borrower while that Bank was a Defaulting Bank; and provided, further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.22parties, 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.