Common use of Status of Lender Clause in Contracts

Status of Lender. If, at any time: (a) the Commitment of any Lender is, in accordance with the terms of this Agreement, permanently reduced to zero; (b) all indebtedness owed to such Lender by the Borrowers hereunder or in connection herewith has been finally and indefeasibly satisfied in full; and (c) such Lender is under no further actual or contingent obligation hereunder; then such Lender shall cease to be a party hereto and a Lender for the purposes hereof; provided however that all indemnities and provisions of this Agreement for the benefit of such Lender shall survive termination for the benefit of such Lender.

Status of Lender. If, at any time: (a) the Commitment of any Lender is, in accordance with the terms of this Agreement, permanently reduced to zero; (b) all indebtedness owed to such Lender by the Borrowers hereunder or in connection herewith or under any Hedging Agreements has been finally and indefeasibly satisfied in full; and (c) such Lender is under no further actual or contingent obligation hereunder; then such Lender shall cease to be a party hereto and a Lender for the purposes hereof; provided however that all indemnities and provisions of this Agreement for the benefit of such Lender shall survive termination for the benefit of such Lender.