Common use of Defaulting Syndication Party Cure Clause in Contracts

Defaulting Syndication Party Cure. If Borrower and the Administrative Agent agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) that portion of outstanding Advances of the other Syndication Parties or take such other actions as the Administrative Agent may determine to be necessary to cause the Advances to be held pro rata by the Syndication Parties in accordance with the Commitments under the applicable facility, whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party.

Defaulting Syndication Party Cure. If Borrower Borrower, the Administrative Agent, the Overnight Lender and the Administrative Agent Letter of Credit Bank agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) that portion of outstanding Advances Loans of the other Syndication Parties or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Overnight Advances to be held pro rata by the Syndication Parties in accordance with the 5-Year Commitments under the applicable facilityfacility (without giving effect to Subsection 15.30.1(d)), whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party.

Defaulting Syndication Party Cure. If Borrower and the Administrative Agent agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) fund that portion of outstanding Advances of Loans that the other Defaulting Syndication Parties Party failed to fund or take such other actions as the Administrative Agent may determine to be necessary to cause the Advances Loans to be held pro rata by the Syndication Parties in accordance with the Commitments (as in effect immediately prior to the funding of the applicable Loans) under the applicable facilityfacility (without giving effect to Subsection 13.30.1(d)), whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party.

Defaulting Syndication Party Cure. If Borrower Borrower, the Administrative Agent, the Overnight Lender and the Administrative Agent Letter of Credit Bank agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) that portion of outstanding Advances Loans of the other Syndication Parties or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Overnight Advances to be held pro rata by the Syndication Parties in accordance with the 5-Year Commitments under the applicable facilityfacility (without giving effect to Section 15.30.1(d)), whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party.

Defaulting Syndication Party Cure. If Borrower and the Administrative Administrative13.30.2 Agent agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) fund that portion of outstanding Advances of Loans that the other Defaulting Syndication Parties Party failed to fund or take such other actions as the Administrative Agent may determine to be necessary to cause the Advances Loans to be held pro rata by the Syndication Parties in accordance with the Commitments (as in effect immediately prior to the funding of the applicable Loans) under the applicable facilityfacility (without giving effect to Subsection 13.30.1(d)), whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party. Status of Syndication Parties.

Defaulting Syndication Party Cure. If Borrower and Borrower, the Administrative Agent and the Overnight Lender agree in writing that a Syndication Party is no longer a Defaulting Syndication Party, 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 Syndication Party will, to the extent applicable, purchase at par (and reimburse any Syndication Party for its Funding Losses attributable to such purchase) that portion of outstanding Advances Loans of the other Syndication Parties or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Overnight Advances to be held pro rata by the Syndication Parties in accordance with the 3-Year Commitments under the applicable facilityfacility (without giving effect to Section 15.30.1(d)), whereupon such Syndication Party will cease to be a Defaulting Syndication Party; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Syndication Party was a Defaulting Syndication Party; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Syndication Party to Syndication Party will constitute a waiver or release of any claim of any party hereunder arising from that Syndication Party’s having been a Defaulting Syndication Party.