Common use of Excluded Commitments Clause in Contracts

Excluded Commitments. If: 35.3.1 any Defaulting Lender fails to respond to a request for a consent, waiver, amendment of or in relation to any term of any Finance Document or any other vote of Lenders under the terms of this Agreement within ten Business Days of that request being made; or 35.3.2 any Lender which is not a Defaulting Lender fails to respond to such a request (other than an amendment, waiver or consent referred to in Clauses 35.2.1(b), 35.2.1(c) and 35.2.1(d) (Exceptions)) or such a vote within ten Business Days of that request being made, (unless, in either case, the Borrowers and the Agent agree to a longer time period in relation to any request): (a) its Commitment(s) shall not be included for the purpose of calculating the Total Commitments when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and (b) its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve that request.

Appears in 2 contracts

Samples: Secured Loan Facility Agreement (Diana Containerships Inc.), Secured Loan Agreement (Diana Containerships Inc.)

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Excluded Commitments. If: 35.3.1 (a) any Defaulting Lender fails to respond to a request for a consent, waiver, amendment of or in relation to any term of any Finance Document or any other vote of Lenders under the terms of this Agreement within ten 10 Business Days of that request being made; or; 35.3.2 (b) or any Lender which is not a Defaulting Lender fails to respond to such a request (other than an amendment, waiver or consent referred to in Clauses 35.2.1(bparagraphs (i), 35.2.1(c(ii) and 35.2.1(d(iii) of Clause 27.2 (Exceptions)) or such a vote within ten 10 Business Days of that request being made, made (unless, unless in either case, case the Borrowers and the Facility Agent agree to a longer time period in relation to any request): (ai) its Commitment(s) Commitment shall not be included for the purpose of calculating the Total Commitments under the Loan when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and (bii) its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve that request.

Appears in 2 contracts

Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.)

Excluded Commitments. If: 35.3.1 (A) any Defaulting Lender fails to respond to a request for a consent, waiver, amendment of or in relation to any term of any Finance Document or any other vote of Lenders under the terms of this Agreement within ten five Business Days of that request being made; or 35.3.2 (B) any Lender which is not a Defaulting Lender fails to respond to such a request (other than an amendment, waiver or consent referred to in Clauses 35.2.1(bClause 33.2(C), 35.2.1(cClause 33.2(E) and 35.2.1(dor Clause 33.2(F) (ExceptionsAll Lender matters)) or such a vote within ten Business Days of that request being made, (unless, in either case, the Borrowers Borrower and the Agent agree to a longer time period in relation to any request): (a1) its Commitment(s) Commitment shall not be included for the purpose of calculating the Total Commitments when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and (b2) its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve that request.

Appears in 1 contract

Samples: Bridge and Term Facilities Agreement (Rentokil Initial PLC /Fi)

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Excluded Commitments. If: 35.3.1 34.3.1 any Defaulting Lender fails to respond to a request for a consent, waiver, amendment of or in relation to any term of any Finance Document or any other vote of Lenders under the terms of this Agreement within ten fifteen (15) Business Days of that request being made; or 35.3.2 34.3.2 any Lender which is not a Defaulting Lender fails to respond to such a request (other than an amendment, waiver or consent referred to in Clauses 35.2.1(b34.2.1(b), 35.2.1(c34.2.1(c) and 35.2.1(d34.2.1(e) (Exceptions)) or other or such a vote within ten 15 Business Days of that request being made, (unless, in either case, the Borrowers and the Agent agree to a longer time period in relation to any request): (a) its Commitment(s) shall not be included for the purpose of calculating the Total Commitments when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and (b) its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve that request.

Appears in 1 contract

Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)

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