Common use of Defaulting Lender’s Right to Vote Clause in Contracts

Defaulting Lender’s Right to Vote. Notwithstanding any provision to the contrary contained in this Agreement or the other Loan Documents for purposes of voting or consenting to matters with respect to (a) the Loan Documents or (b) any other matter concerning the Loans, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitments and outstanding Loans and Advances shall be deemed to be zero.

Appears in 4 contracts

Samples: Loan and Security Agreement (Sun Healthcare Group Inc), Loan and Security Agreement (Sun Healthcare Group Inc), Loan and Security Agreement (Sun Healthcare Group Inc)

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Defaulting Lender’s Right to Vote. Notwithstanding any provision to the contrary contained in this Agreement or the other Loan Documents for For purposes of voting or consenting to matters with respect to (ai) the Loan Documents or (bii) any other matter concerning the Loans, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitments and outstanding Loans and Advances shall be deemed to be zero.

Appears in 2 contracts

Samples: Loan and Security Agreement (Banctec Inc), Loan and Security Agreement (Beacon Roofing Supply Inc)

Defaulting Lender’s Right to Vote. Notwithstanding any provision to the contrary contained in this Agreement or the other Loan Documents for purposes of voting EXHIBIT 10.1 or consenting to matters with respect to (a) the Loan Documents or (b) any other matter concerning the Loans, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitments and outstanding Loans and Advances shall be deemed to be zero.

Appears in 1 contract

Samples: Loan and Security Agreement (Rocky Shoes & Boots Inc)

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Defaulting Lender’s Right to Vote. Notwithstanding any provision to the contrary contained in this Agreement or the other Loan Documents for purposes of voting or consenting to matters with respect to (a) the Loan Documents or (b) any other matter concerning the Loans, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's ’s Commitments and outstanding Loans and Advances shall be deemed to be zero.

Appears in 1 contract

Samples: Loan and Security Agreement (Rocky Brands, Inc.)

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