Declining Bank definition

Declining Bank has the meaning specified in Section 2.7.

Declining Bank shall have the meaning provided in Section 3.04(b).

Declining Bank has the meaning assigned to such term in Section 2.18(a).

Examples of Declining Bank in a sentence

• The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension.

• The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned.

• At any time after the issue of a Bilateral Letter of Credit by a Declining Bank the Account Party may give the Agent and the Declining Bank not less than fourteen days' prior written notice of its intention to procure that the liability of the Declining Bank under such Letter of Credit is reduced to zero (whereupon it shall do so).

• No Declining Bank shall have any obligation to or shall be deemed to have participated in any Letters of Credit which are Issued on or after the Conversion to Reduced Funding Banks Date.

• If a Bank elects to extend only a portion of its then existing Commitment, it will be deemed for purposes hereof to be a Consenting Bank in respect of such extended portion and a Declining Bank in respect of the remaining portion of its Commitment.

More Definitions of Declining Bank

Declining Bank has the meaning set forth in Section 5.01(g).

Declining Bank has the meaning assigned to that term in Section 4.01(c).

Declining Bank see Section 12.15(a).

Declining Bank has the meaning set forth in Section 9.14(b) hereof. --------------

Declining Bank. As defined in Section 3.6(a) hereof.

Declining Bank has the meaning specified in Section 2.13 and “Declining Banks” means all Banks that are a Declining Bank.

Declining Bank shall have the meaning assigned to such term in Section 2.14 hereof. “Default” shall mean an Event of Default or an event that with notice or lapse of time or both would become an Event of Default. “Defaulting Lender” shall mean any Bank that has (a) failed, within two Business Days of the date required to be funded or paid, to fund any portion of its Loans or participations in Letters of Credit or to pay over to the Administrative Agent, any Issuing Bank or any Bank (each a “Credit Party”) any other amount required to be paid by it hereunder, unless, in respect of the funding of any Loan, such Bank notifies the Administrative Agent and the Company in writing that such failure is the result of such Bank’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to such funding has not been satisfied, (b) notified the Company or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or statement indicates that such position is based on such Bank’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding a Loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) failed, within two Business Days after written request by the Administrative Agent or any Issuing Bank, acting in good faith, to provide a certification in writing from an authorized officer of such Bank that it will comply with its obligations to fund prospective Loans and participations in then outstanding Letters of Credit under this Agreement, provided that such Bank shall cease to be a Defaulting Lender under this clause (c) upon such party’s receipt of such confirmation in form and substance reasonably satisfactory to it and the Administrative Agent, or (d) become or is, or has a direct or indirect parent company that has become or is (i) insolvent or (ii) become the subject of a proceeding under any Debtor Relief Law, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it (including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity...