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

Defaulting Lender’s Right to Vote. For purposes of --------------------------------- voting or consenting to matters with respect to (i) the Loan Documents or (ii) 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 (Banctec Inc)

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Defaulting Lender’s Right to Vote. For purposes of --------------------------------- voting or consenting to matters with respect to (i) the Loan Documents or (ii) any other matter concerning the LoansRevolving Loan, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitments Revolving Loan Commitment and outstanding Loans and Revolving Advances shall be deemed to be zero.

Appears in 1 contract

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

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Defaulting Lender’s Right to Vote. For purposes of --------------------------------- voting or consenting to matters with respect to (i) the Loan Documents or (ii) any other matter concerning the LoansRevolving Loan, a Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitments ’s Revolving Loan Commitment and outstanding Loans and Revolving Advances shall be deemed to be zero.

Appears in 1 contract

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

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