Sanctioned Lenders Sample Clauses
The 'Sanctioned Lenders' clause defines which lenders are excluded from participating in a loan agreement due to their involvement in activities or jurisdictions subject to international sanctions. This clause typically operates by listing specific countries, entities, or individuals that are prohibited from acting as lenders, or by referencing applicable sanctions laws and regulations. Its core function is to ensure compliance with legal and regulatory requirements, thereby protecting the parties from legal risks and potential penalties associated with dealing with sanctioned entities.
Sanctioned Lenders. If any Lender becomes a Sanctioned Lender, (i) to the extent an Eligible Assignee is willing and able to accept such assignment, the Administrative Agent may require the Sanctioned Lender to assign all its interests, rights and obligations under this Agreement and the other Loan Documents to the Eligible Assignee that shall assume such obligations in accordance with Section 5.04(b), (ii) if the Administrative Agent determines it advisable to comply with applicable law, the Administrative Agent may open a segregated deposit account for the benefit of such Sanctioned Lender and deposit any payments owed to such Sanctioned Lender pursuant to the terms of the Loan Documents, including amounts owed in connection with an assignment pursuant to clause (i) of this paragraph, into such segregated deposit account, the proceeds of which shall be released by the Administrative Agent to the Sanctioned Lender when the Administrative Agent is permitted to do so by applicable law or otherwise applied in accordance with applicable law, and (iii) the Administrative Agent may take any other actions it reasonably determines are advisable to comply with the applicable Sanctions or applicable law, without liability to the Sanctioned Lender, any other Lender or the Borrower, including specifying an effective date for its resignation under Section 11.06(b) that is less than thirty (30) days (but not less than the shorter of (x) fifteen (15) days and (y) the maximum amount of days, as determined by the Administrative Agent, permitted by applicable law) following the date of the Administrative Agent’s notice thereunder. Notwithstanding the foregoing, the Administrative Agent shall not be required to take any action, or refrain for taking any action, under this Agreement or any of the Loan Documents which would result in a violation of applicable Sanctions or applicable law.
Sanctioned Lenders. (a) Prologis shall have no obligation to pay any Lender a facility fee pursuant to Section 6.5.1 or any Letter of Credit Fee pursuant to Section 5.9 for any day on which such Lender is a Sanctioned Lender.
(b) Notwithstanding anything to the contrary herein, no Sanctioned Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that (unless otherwise required by applicable Law) the Commitment of such Lender may not be increased or extended (other than pursuant to Section 6.10), the principal amount of the Loans owed to such Lender may not be reduced, the final maturity of such Loans may not be extended (other than pursuant to Section 6.10) and this clause (b) may not be amended, in each case, without the consent of such Lender.
Sanctioned Lenders. Promptly upon any Lender becoming a Sanctioned Lender and/or a Restricted Party, that Lender shall provide written notice to the Facility Agent and each Borrower.
Sanctioned Lenders. Prologis shall have no obligation to pay any Lender a facility fee pursuant to Section 6.5.1 or any Letter of Credit Fee pursuant to Section 5.9 for any day on which such Lender is a Sanctioned Lender.
Sanctioned Lenders. (a) The Borrowers shall have no obligation to pay any Lender an unused fee pursuant to Section 6.6.3 for any day on which such Lender is a Sanctioned Lender.
(b) Notwithstanding anything to the contrary herein, no Sanctioned Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that (unless otherwise required by applicable Law) the Commitment of such Lender may not be 16257277_9 increased or extended, the principal amount of the Loans owed to such Lender may not be reduced, the final maturity of such Loans may not be extended and this clause (b) may not be amended, in each case, without the consent of such Lender.