Payments; Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may use such amounts to cover the Defaulting Lender’s defaulted obligations, to Cash Collateralize such Lender’s Fronting Exposure, to readvance the amounts to Borrowers or to repay Obligations. A Lender shall not be entitled to receive any fees accruing hereunder while it is a Defaulting Lender and its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1.
Appears in 3 contracts
Samples: Loan, Security and Guarantee Agreement (GEE Group Inc.), Loan and Security Agreement (NewLake Capital Partners, Inc.), Loan, Security and Guarantee Agreement (AutoWeb, Inc.)
Payments; Fees. The Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to the Agent such amounts until all Obligations owing to the Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. The Agent may use apply such amounts to cover the Defaulting Lender’s defaulted obligations, use the funds to Cash Collateralize cash collateralize such Lender’s Fronting Exposure, to or readvance the amounts to the Borrowers or to repay Obligationshereunder. A Lender shall not be entitled to receive any fees accruing hereunder while during the period in which it is a Defaulting Lender Lender, and the unfunded portion of its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1.Section
Appears in 2 contracts
Samples: Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp)
Payments; Fees. Agent may, in its discretion, shall receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may shall use such amounts to cover the Defaulting Lender’s defaulted obligations, to Cash Collateralize such Lender’s Fronting Exposure, to readvance the amounts to Borrowers or to repay Obligations. A Lender shall not be entitled to receive any fees accruing hereunder while during the period in which it is a Defaulting Lender Lender, and the unfunded portion of its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.13.
Appears in 1 contract
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Payments; Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, the non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may use such amounts to cover the Defaulting Lender’s defaulted obligations, to Cash Collateralize such Lender’s Fronting Exposure, to readvance the amounts to Borrowers Borrower or to repay Obligations. A Lender shall not be entitled to receive any fees accruing hereunder while it is a Defaulting Lender and its unfunded Commitment Commitments shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1.
Appears in 1 contract
Samples: Senior Credit Agreement (Hornbeck Offshore Services Inc /La)
Payments; Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may use such amounts to cover the Defaulting Lender’s 's defaulted obligations, to Cash Collateralize such Lender’s Fronting Exposure, to readvance the amounts to Borrowers or to repay Obligations. A Lender shall not be entitled to receive any fees accruing hereunder while it is a Defaulting Lender and its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1Sections 3.2.2 and 3.
Appears in 1 contract
Payments; Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Full Payment of the Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in fullParties. Agent may use apply such amounts to cover the Defaulting Lender’s defaulted obligations, use the funds to Cash Collateralize such Lender’s Fronting Exposure, to or readvance the amounts to Borrowers or to repay Obligationshereunder. A Lender shall not be entitled to receive any fees accruing hereunder while during the period in which it is a Defaulting Lender Lender, and the unfunded portion of its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee fees under Section 3.2.13.2.1 and 3.
Appears in 1 contract
Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)
Payments; Fees. Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may use apply such amounts to cover the Defaulting Lender’s defaulted obligations, use the funds to Cash Collateralize such Lender’s Fronting ExposureLC Obligations, to or readvance the amounts to Borrowers or to repay Obligationshereunder. A Lender shall not be entitled to receive any fees accruing hereunder while during the period in which it is a Defaulting Lender Lender, and the unfunded portion of its unfunded Revolver Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.13.2.
Appears in 1 contract
Samples: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)