Examples of Benefited Lender in a sentence
The Guarantor agrees that this Guaranty constitutes a guaranty of payment when due and not of collection and waives any right to require that any resort be made by the Administrative Agent or any Benefited Lender to any Borrower, any other Guarantor or collateral, if any, for the Obligations.
The Guarantor agrees that neither the Administrative Agent nor any Benefited Lender shall have any obligation to marshal any assets in favor of the Guarantor or against or in payment of any or all of the Obligations.
For purposes of clause (iii) of Section 2.21(a), a Benefited Lender that acquires a participation interest in another Lender’s Obligations pursuant to this Section 9.7(a) shall be deemed to have acquired such participating interest on the earlier date(s) on which such Benefited Lender acquired its Obligations to which the participating interest relates.
The Borrower agrees that such Benefited Lender so purchasing a participation from such other Lenders pursuant to this subsection (a) may exercise such rights to payment (including the right of setoff) with respect to such participation as fully as such Benefited Lender were the direct creditor of the Borrower in the amount of such participation.
The Borrower agrees that such Benefited Lender so purchasing a participation from the Issuing Bank or such other Lenders, as the case may be, pursuant to this Section 11.11(a) may exercise such rights to payment (including the right of setoff) with respect to such participation as fully as such Benefited Lender were the direct creditor of the Borrower in the amount of such participation.