Defaulted Payment definition
Examples of Defaulted Payment in a sentence
Pledgor shall effect its purchase of undivided participating interests in the Loans and the Commitments pursuant to this Section 4.1 by paying to Collateral Agent for the account of the Secured Parties, in immediately available funds in Dollars, the lesser of (i) the amount of the Defaulted Payment and (ii) the aggregate amount of such outstanding Loans and the Commitment (such lesser amount, the “Defaulted Payment Amount”).
Pledgor’s purchase of an undivided participating interest in the Loans, the Commitment and the other Obligations, and Guarantor’s funding of such purchase, in the full amount (if any) required pursuant to Section 4.1 following a Defaulted Payment in respect of any Contributions, shall satisfy Pledgor’s or Guarantor’s, as applicable, obligation pursuant to Section 2.1 to make such Defaulted Payments hereunder, and reduce the Available Contribution Amount, to the extent of the amount of such participations.