Common use of Disenfranchisement of Defaulting Lenders Clause in Contracts

Disenfranchisement of Defaulting Lenders. (a) For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Banks or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments or Total Revolving Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender’s Commitments will be reduced by the amount of its Available Commitments. (b) For the purposes of this Clause 37.3, the Agent may assume that the following Banks are Defaulting Lenders: (i) any Bank which has notified the Agent that it has become a Defaulting Lender; (ii) any Bank in relation to which it is aware that any of the events or circumstances referred to in paragraphs (a), (b) or (c) of the definition of Defaulting Lender has occurred and in the case of the events or circumstances referred to in paragraph (a) of the definition of Defaulting Lender none of the exceptions to that paragraph apply, unless it has received notice to the contrary from the Bank concerned (together with any supporting evidence reasonably requested by the Agent) or the Agent is otherwise aware that the Bank has ceased to be a Defaulting Lender.

Disenfranchisement of Defaulting Lenders. (a) For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Banks Lenders or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments or Total Revolving Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender’s 's Commitments will be reduced by the amount of its Available Commitments. (b) For the purposes of this Clause 37.340.3, the Facility Agent may assume that the following Banks Lenders are Defaulting Lenders: (i) any Bank Lender which has notified the Facility Agent that it has become a Defaulting Lender; (ii) any Bank Lender in relation to which it is aware that any of the events or circumstances referred to in paragraphs (a), (b) or (c) of the definition of "Defaulting Lender Lender" has occurred and in the case of the events or circumstances referred to in paragraph (a) of the definition of Defaulting Lender none of the exceptions to that paragraph applyoccurred, unless it has received notice to the contrary from the Bank Lender concerned (together with any supporting evidence reasonably requested by the Facility Agent) or the Facility Agent is otherwise aware that the Bank Lender has ceased to be a Defaulting Lender.

Disenfranchisement of Defaulting Lenders. (a) For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Banks Lenders or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments or Total Revolving Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender’s Commitments will be reduced by the amount of its Available Commitments. (b) For the purposes of this Clause 37.3, clause 40.5 the Agent may assume that the following Banks Lenders are Defaulting Lenders: (i) any Bank Lender which has notified the Agent that it has become a Defaulting Lender; (ii) any Bank Lender in relation to which it is aware that any of the events or of circumstances referred to in paragraphs (a), (b) or (c) of the definition of Defaulting Lender has occurred and and, in the case of the events or circumstances referred to in paragraph (a) of the definition of Defaulting Lender ), none of the exceptions to that paragraph apply, unless it has received notice to the contrary from the Bank Lender concerned (together with any supporting evidence reasonably requested by the Agent) or the Agent is otherwise aware that the Bank Lender has ceased to be a Defaulting Lender.