Common use of Defaulting Bank Investor Clause in Contracts

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time), one or more Bank Investors in any Class (each, a “Defaulting Bank Investor,” and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “Non-Defaulting Bank Investor”) fails to make its Pro Rata Share of the Transfer Price available to the Administrative Agent pursuant to Section 2.2(a), or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a) (the aggregate amount not so made available being herein called in either case the “Deficit”), then the Administrative Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Date or the applicable date that such Assignment Amount is payable (the “Assignment Date”), as the case may be, instruct each Non-Defaulting Bank Investor to pay or deposit, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent or such Class Conduit, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative Agent, for the account of the related Class Conduit, on such Defaulting Bank Investor’s portion of such remaining Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same Class.

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time)) on any Loan Date, whether or not a Managing Agent has advanced the amount of the applicable Loan, one or more Bank Investors in any Class (each, a “Defaulting Bank Investor,” ”, and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “Non-Defaulting Bank Investor”) fails to make its Pro Rata Share of the Transfer Price any Loan available to the Administrative Agent pursuant to Section 2.2(a), 2.3(d) or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a2.14(a) (the aggregate amount not so made available to a Managing Agent being herein called in either case the “Loan Deficit”), then the Administrative related Managing Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Loan Date or the applicable date that such Assignment Amount is payable (the “Assignment Date”), as the case may be, instruct each Non-Defaulting Bank Investor to pay or depositpay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent or account designated by such Class ConduitManaging Agent, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Loan Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative such Managing Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Loan Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative related Managing Agent, for the account of the related Class ConduitLender, on such Defaulting Bank Investor’s portion of such remaining Investment Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Loan Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same ClassLender.

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time), one or more Bank Investors in any Class (each, a “"Defaulting Bank Investor,” ", and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “"Non-Defaulting Bank Investor”") fails to make its Pro Rata Share of the Transfer Price any Funding available to the Administrative Agent pursuant to Section 2.2(a2.1(a) or (c), as applicable, or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a5.7(a) (the aggregate amount not so made available being herein called in either case the “"Deficit”"), then the Administrative Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Funding Date or the applicable date that such Assignment Amount is payable (the “"Assignment Date”"), as the case may be, instruct each Non-Defaulting Bank Investor to pay or deposit, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent Issuer, the Prefunding Account or such Class Conduitthe Company, as the case may be, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s 's proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative Agent, for the account of the related Class ConduitCompany, on such Defaulting Bank Investor’s 's portion of such remaining Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same ClassCompany.

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time)) on any Loan Date, one or more Bank Investors in any Class (each, a “"Defaulting Bank Investor,” ", and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “"Non-Defaulting Bank Investor”") fails to make its Pro Rata Share of the Transfer Price any Loan available to the Administrative Agent pursuant to Section 2.2(a), 2.2(d) or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a2.13(a) (the aggregate amount not so made available to the Agent being herein called in either case the “"Loan Deficit”"), then the Administrative Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Loan Date or the applicable date that such Assignment Amount is payable (the “Assignment Date”), as the case may be, instruct each Non-Defaulting Bank Investor to pay or depositpay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent or such Class Conduitaccount designated by the Agent, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s 's proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Loan Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Loan Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative Agent, for the account of the related Class ConduitLender, on such Defaulting Bank Investor’s 's portion of such remaining Investment Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Loan Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same ClassLender.

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time)) on any Loan Date, one or more Bank Investors in any Class (each, a “Defaulting Bank Investor,” ”, and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “Non-Defaulting Bank Investor”) fails to make its Pro Rata Share of the Transfer Price any Loan available to the Administrative Agent pursuant to Section 2.2(a), 2.2(d) or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a2.13(a) (the aggregate amount not so made available to the Agent being herein called in either case the “Loan Deficit”), then the Administrative Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Loan Date or the applicable date that such Assignment Amount is payable (the “Assignment Date”), as the case may be, instruct each Non-Defaulting Bank Investor to pay or depositpay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent or such Class Conduitaccount designated by the Agent, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Loan Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Loan Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative Agent, for the account of the related Class ConduitLender, on such Defaulting Bank Investor’s portion of such remaining Investment Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Loan Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same ClassLender.

Defaulting Bank Investor. If, by 2:00 p.m. (New York City time), one or more Bank Investors in any Class (each, a “"Defaulting Bank Investor,” ", and each Bank Investor in such class other than any Defaulting Bank Investor being referred to as a “"Non-Defaulting Bank Investor”") fails to make its Pro Rata Share of the Transfer Price any Funding available to the Administrative Agent pursuant to Section 2.2(a2.1(a), as applicable, or any Assignment Amount payable by it to its related Class Conduit pursuant to Section 10.7(a5.7(a) (the aggregate amount not so made available being herein called in either case the “"Deficit”"), then the Administrative Deal Agent shall, by no later than 2:30 p.m. (New York City time) on the applicable Transfer Funding Date or the applicable date that such Assignment Amount is payable (the “"Assignment Date”"), as the case may be, instruct each Non-Defaulting Bank Investor to pay or deposit, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the Administrative Agent Issuer or such Class Conduitthe Company, as the case may be, an amount equal to the lesser of (i) such Non-Defaulting Bank Investor’s 's proportionate share (based upon the relative Commitments of the Non-Defaulting Bank Investors) of the Deficit and (ii) its unused Commitment. A Defaulting Bank Investor shall forthwith, upon demand, pay to the Administrative Deal Agent for the ratable benefit of the Non-Defaulting Bank Investors all amounts paid by each Non-Defaulting Bank Investor on behalf of such Defaulting Bank Investor, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Bank Investor until the date such Non-Defaulting Bank Investor has been paid such amounts in full, at a rate per annum equal to the sum of the Base Rate, plus 2.00% per annum. In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Bank Investor shall pay interest to the Administrative Deal Agent, for the account of the related Class ConduitCompany, on such Defaulting Bank Investor’s 's portion of such remaining Deficit, at a rate per annum, equal to the sum of the Base Rate, plus 2.00% per annum, for each day from the applicable Assignment Date until the date such Defaulting Bank Investor shall pay its portion of such remaining Deficit in full to such Class Conduit. For the avoidance of doubt, no Bank Investor shall be obligated pursuant to this paragraph (f) with respect to any Deficit created by a Bank Investor which is not a member of the same ClassCompany.