Common use of Snooze/Lose Clause in Contracts

Snooze/Lose. If in relation to: (a) a request for a Consent in relation to any of the terms of this Agreement; (b) a request to participate in any other vote of Senior Secured Creditors, Second Lien Creditors, High Yield Creditors or Unsecured Creditors under the terms of this Agreement; (c) a request to approve any other action under this Agreement; or (d) a request to provide any confirmation or notification under this Agreement, in each case, any Senior Secured Creditor, any Second Lien Creditor, any High Yield Creditor or any Unsecured Creditor: (i) fails to respond to that request within ten (10) Business Days (or within such other period as the relevant Agent and the Company shall specify) of that request being made; or (ii) fails to provide details of its Senior Secured Credit Participation, Second Lien Credit Participation, High Yield Credit Participation or Unsecured Credit Participation to the Security Agent within the timescale specified by the Security Agent, then: (A) in the case of paragraphs (a) to (c) above, that Senior Secured Credit Participation, that Second Lien Credit Participation, that High Yield Credit Participation or that Unsecured Credit Participation (as the case may be) shall be deemed to be zero for the purpose of calculating the Senior Secured Credit Participation, the Second Lien Credit Participation, the High Yield Credit Participation or the Unsecured Credit Paricipation when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Senior Secured Credit Participations, Second Lien Credit Participations, High Yield Participations or Unsecured Credit Participations has been obtained to give that Consent, carry that vote or approve that action; (B) in the case of paragraphs (a) to (c) above, that Primary Creditor’s status as a Second Lien Creditor, a Senior Secured Creditor, a High Yield Creditor and an Unsecured Creditor shall be disregarded for the purposes of ascertaining whether the agreement of any specified group of Primary Creditors has been obtained to give that Consent, carry that vote or approve that action; and (C) in the case of paragraph (d) above, that confirmation or notification shall be deemed to have been given.

Snooze/Lose. (a) If in relation to: (ai) a request for a Consent in relation to any of the terms of this Agreement; (bii) a request to participate in any other vote of Senior Secured Creditors, Second Lien Creditors, High Yield Creditors or Unsecured Creditors Junior Lenders under the terms of this Agreement; (ciii) a request to approve any other action under this Agreement; or (div) a request to provide any confirmation or notification under this Agreement, in each case, ; any Senior Secured Creditor, any Second Lien Creditor, any High Yield Creditor or any Unsecured Creditor: (iA) fails to respond to that request within ten (10) 10 Business Days (or within such other period as the relevant Agent and the Company shall specify) of that request being made; or (iiB) (in the case of a Senior Creditor and paragraphs (i) to (iii) above and if so requested by the Security Trustee), fails to provide details of its Senior Secured Credit Participation, Second Lien Credit Participation, High Yield Credit Participation or Unsecured Credit Participation to the Security Agent Trustee within the timescale specified by the Security Agent, thenTrustee: (Av) in the case of paragraphs (ai) to (ciii) above, that Creditor’s Senior Secured Credit Participation, that Second Lien Credit Participation, that High Yield Credit Participation or that Unsecured Credit Participation Junior Commitment (as the case may be) shall be deemed to be zero for the purpose of calculating the Senior Secured Credit Participation, the Second Lien Credit Participation, the High Yield Credit Participation Participations or the Unsecured Credit Paricipation Junior Commitments when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Senior Secured Credit Participations, Second Lien Credit Participations, High Yield Participations or Unsecured Credit Participations Junior Commitments has been obtained to give that Consent, carry that vote or approve that action; (Bvi) in the case of paragraphs (ai) to (ciii) above, that Primary Creditor’s status as a Second Lien Creditor, a Senior Secured Creditor, a High Yield Creditor and an Unsecured Creditor or Junior Lender shall be disregarded for the purposes of ascertaining whether the agreement of any specified group of Primary Creditors has been obtained to give that Consent, carry that vote or approve that action; and (Cvii) in the case of paragraph (div) above, that confirmation or notification shall be deemed to have been given.

Snooze/Lose. (a) If in relation to: (ab) a request for a Consent in relation to any of the terms of this Agreement; (bc) a request to participate in any other vote of Senior Secured Creditors, Second Lien Creditors, High Yield Creditors or Unsecured Creditors under the terms of this Agreement; (cd) a request to approve any other action under this Agreement; or (de) a request to provide any confirmation or notification under this Agreement, in each case, any Senior Secured Creditor, any Second Lien Creditor, any High Yield Creditor or any Unsecured Creditor: (i) fails to respond to that request within ten (10) Business Days (or within such other period as the relevant Agent and the Company shall specify) of that request being made; or (ii) fails to provide details of its Senior Secured Credit Participation, Second Lien Credit Participation, High Yield Credit Participation or 84894163_20 Unsecured Credit Participation to the Security Agent within the timescale specified by the Security Agent, , (iii) then: (A) in the case of paragraphs (a) to (c) above, that Senior Secured Credit Participation, that Second Lien Credit Participation, that High Yield Credit Participation or that Unsecured Credit Participation (as the case may be) shall be deemed to be zero for the purpose of calculating the Senior Secured Credit Participation, the Second Lien Credit Participation, the High Yield Credit Participation or the Unsecured Credit Paricipation when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Senior Secured Credit Participations, Second Lien Credit Participations, High Yield Participations or Unsecured Credit Participations has been obtained to give that Consent, carry that vote or approve that action; (B) in the case of paragraphs (a) to (c) above, that Primary Creditor’s status as a Second Lien Creditor, a Senior Secured Creditor, a High Yield Creditor and an Unsecured Creditor shall be disregarded for the purposes of ascertaining whether the agreement of any specified group of Primary Creditors has been obtained to give that Consent, carry that vote or approve that action; and (C) in the case of paragraph (d) above, that confirmation or notification shall be deemed to have been given.

Snooze/Lose. (a) If in relation to: (ab) a request for a Consent in relation to any of the terms of this Agreement; (bc) a request to participate in any other vote of Senior Secured Creditors, Second Lien Creditors, High Yield Creditors or Unsecured Creditors under the terms of this Agreement; (cd) a request to approve any other action under this Agreement; or (de) a request to provide any confirmation or notification under this Agreement, in each case, any Senior Secured Creditor, any Second Lien Creditor, any High Yield Creditor or any Unsecured Creditor: (i) fails to respond to that request within ten (10) Business Days (or within such other period as the relevant Agent and the Company shall specify) of that request being made; or (ii) fails to provide details of its Senior Secured Credit Participation, Second Lien Credit Participation, High Yield Credit Participation or Unsecured Credit Participation to the Security Agent within the timescale specified by the Security Agent, , (iii) then: (A) in the case of paragraphs (a) to (c) above, that Senior Secured Credit Participation, that Second Lien Credit Participation, that High Yield Credit Participation or that Unsecured Credit Participation (as the case may be) shall be deemed to be zero for the purpose of calculating the Senior Secured Credit Participation, the Second Lien Credit Participation, the High Yield Credit Participation or the Unsecured Credit Paricipation when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Senior Secured Credit Participations, Second Lien Credit Participations, High Yield Participations or Unsecured Credit Participations has been obtained to give that Consent, carry that vote or approve that action; (B) in the case of paragraphs (a) to (c) above, that Primary Creditor’s status as a Second Lien Creditor, a Senior Secured Creditor, a High Yield Creditor and an Unsecured Creditor shall be disregarded for the purposes of ascertaining whether the agreement of any specified group of Primary Creditors has been obtained to give that Consent, carry that vote or approve that action; and (C) in the case of paragraph (d) above, that confirmation or notification shall be deemed to have been given.