Common use of New Swingline Loans/Letters of Credit Clause in Contracts

New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loans and no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit, unless the Swingline Lender or such Issuing Lender, as applicable, is satisfied that the related Fronting Exposure and the then outstanding Fronting Exposure applicable to the Defaulting Lender (x) will be 100% covered by the Revolving Credit Commitments of the Non-Defaulting Lenders and/or (y) cash collateral will be provided by the Borrower in accordance with Section 4.15(a), and participating interests in any newly made Swingline Loan or any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section 4.15(a) (and such Defaulting Lender shall not participate therein).

New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loans and no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit, unless the Swingline Lender or such the Issuing Lender, as applicable, is satisfied that the related Fronting Exposure and the then outstanding Fronting Exposure applicable to the Defaulting Lender (x) will be 100% covered by the Revolving Credit Commitments of the Non-Defaulting Lenders and/or (y) cash collateral will be provided by the Borrower in accordance with Section 4.15(a), and participating interests in any newly made Swingline Loan or any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section 4.15(a) (and such Defaulting Lender shall not participate therein).