Defaulting Committed Lender means any Committed Lender that, as determined by the Administrative Agent: (a) has failed to fund any of its obligations to make Loans within three (3) Business Days of the date required to be funded by it hereunder, (b) has notified the Administrative Agent or the Borrower that it does not intend to comply with such funding obligations or has made a public statement to that effect with respect to such funding obligations hereunder or under other agreements in which it commits to extend credit or (c) has, or has a direct or indirect parent company that has, become subject to an Event of Bankruptcy; provided, that a Committed Lender shall not be deemed to be a Defaulting Committed Lender hereunder solely by virtue of any control of or ownership interest in, or the acquisition of any ownership interest in, such Committed Lender (or its direct or indirect parent company) or the exercise of control over such Committed Lender (or its direct or indirect parent company) by a Governmental Authority thereof if and for so long as such ownership interest does not result in or provide such Committed Lender (or its direct or indirect parent company) with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Committed Lender (or its direct or indirect parent company) or such Governmental Authority to reject, repudiate, disavow or disaffirm obligations such as those under this Agreement.
Defaulting Committed Lender means any Committed Lender that (a) has failed to fund all or any portion of its share of a Credit Extension on the date required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Committed Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) as determined by the Administrative Agent, has failed to fund any of its Lender Group Percentage of a Reimbursement Borrowing in accordance with Section 2.04(f), (c) has notified the Borrower, the Servicer, the Administrative Agent, any Facility Agent or any other Lender 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 public statement indicates that such position is based on such Committed Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied or (d) has become the subject of an Event of Bankruptcy; provided that a Committed Lender shall not be a Defaulting Committed Lender pursuant to this clause (d) solely by virtue of the ownership or acquisition of any Equity Interest in such Committed Lender or its Parent Company by a Governmental Authority or agency thereof.
Defaulting Committed Lender has the meaning set forth in Section 1.02(c).
Examples of Defaulting Committed Lender in a sentence
Such deposits shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of Borrower (or, with respect to Cash Collateral deposited in respect of a Defaulting Committed Lender, such Defaulting Committed Lender) under this Agreement and the other Facility Documents.
A Defaulting Committed Lender shall forthwith, upon demand, pay to its related Managing Agent for the ratable benefit of the Non-Defaulting Committed Lenders all amounts paid by each Non-Defaulting Committed Lender on behalf of such Defaulting Committed Lender, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Committed Lender until the date such Non-Defaulting Committed Lender has been paid such amounts in full, at a rate per annum equal to the Default Rate.
TL1, mg g-1 DW0.92±0.09 a0.83<0.0016TL2, % of TFA0.64±0.06 b0.85<0.0016PC, % of TFA0.27±0.02 c0.88<0.0014PE, % of TFA0.28±0.01 c0.96<0.0014A.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Committed Lender hereunder shall become effective under Applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Committed Lender for all purposes of this Credit Agreement until such compliance occurs.
No such assignment shall be made to (A) any Credit Party or Managing Entity or any Credit Party’s or Managing Entity’s Subsidiaries or Affiliates, or (B) to any Defaulting Committed Lender or any of its Affiliates, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B).
More Definitions of Defaulting Committed Lender
Defaulting Committed Lender means any Committed Lender that, as determined by the Administrative Agent: (i) has failed to fund any of its obligations to make Loans in accordance with Section 2.01, notwithstanding that all conditions to funding under Section 4.2 and, with respect to the Initial Loan, Section 4.1 have been satisfied or waived in accordance with the 13
Defaulting Committed Lender means, subject to Section 12.12(b) and Section 4.8, any Committed Lender that (a) has failed to (i) fund all or any portion of the Loans required to be funded by it hereunder within two (2) Business Days of the date such Loans are required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrowers in writing that such failure is the result of such Committed Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any other Committed Lender any other amount required to be paid by it hereunder within two (2) Business Days of the date when due, (b) has notified any Credit Party, Managing Entity or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Committed Lender’s obligation to fund a Loan hereunder and states that such position is based on such Committed Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three(3) Business Days after written request by the Administrative Agent or the Credit Parties, to confirm in writing to the Administrative Agent and the Credit Parties that it will comply with its prospective funding obligations hereunder (provided that such Committed Lender shall cease to be a Defaulting Committed Lender pursuant to thisclause (c) upon receipt of such written confirmation by the Administrative Agent and the Credit Parties), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Committed Lender shall not be a Defaulting Committed Lender solely by virtue of the ownership or acqui...
Defaulting Committed Lender has the meaning set forth in Section 1.02(c). Appendix A to Amended and Restated Indenture
Defaulting Committed Lender means any Committed Lender that, as determined by the Administrative Agent: (i) has failed to fund any of its obligations to make Loans in accordance with Section 2.01, notwithstanding that all conditions to funding under Section 4.02 and, with respect to the Initial Loan, Section 4.01 have been satisfied or waived in accordance with the terms thereof, within three Business Days of the date required to be funded by it hereunder, (ii) has notified the Administrative Agent or the Borrower in writing that it does not intend to comply with such funding obligations, or has made a public statement to that effect with respect to such funding obligations hereunder, or (iii) has become subject to an Insolvency Event; provided, that a Committed Lender shall not be deemed to be a Defaulting Committed Lender hereunder solely by virtue of any control of or ownership interest in, or the acquisition of any ownership interest in, such Committed Lender (or its direct or indirect parent company) or the exercise of control over such Committed Lender (or its direct or indirect parent company) by a Governmental Authority thereof, if and for so long as such ownership interest does not result in or provide such Committed Lender (or its direct or indirect parent company) with immunity from
Defaulting Committed Lender means any Committed Lender that, as determined by the Administrative Agent: (a) has failed to fund any of its obligations to make Loans within three (3) Business Days of the date required to be funded by it hereunder, (b) has notified the Administrative Agent or the Borrower that it does not intend to comply with such funding obligations or has made a public statement to that effect with respect to such funding obligations hereunder or under other agreements in which it commits to extend credit or(c) has, or has a direct or indirect parent company that has, become subject to an Event of Bankruptcy; provided, that a Committed Lender shall not be deemed to be a Defaulting Committed Lender hereunder solely by virtue of any control of or ownership interest in, or the acquisition of any ownership interest in, such Committed Lender (or its direct or indirect parent company) or the exercise of control over such Committed Lender (or its direct or indirect parent company) by a Governmental Authority thereof if and for so long as such ownership interest does not result in or provide such Committed Lender (or its direct or indirect parent company) with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Committed Lender (or its direct or indirect parent company) or such Governmental Authority to reject, repudiate, disavow or disaffirm obligations such as those under this Agreement.
Defaulting Committed Lender means any Committed Lender that (a) has failed to fund all or any portion of its share of a Credit Extension on the date required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Committed Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) as determined by the Administrative Agent, has failed to fund any of its Lender Group Percentage of a Reimbursement Borrowing in accordance with Section 2.04(f), (c) has notified the Borrower, the Servicer, the Administrative Agent, any Facility Agent or any other Lender 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 public statement indicates that such position is based on such Committed Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied or (d) has become the subject of an Event of Bankruptcy; provided that a Committed Lender shall not be a Defaulting Committed Lender pursuant to this clause (d) solely by virtue of the ownership or acquisition of any equity interest in such Committed Lender or its parent company by a Governmental Authority or agency thereof.
Defaulting Committed Lender means any Committed Lender that, as determined by the Administrative Agent: (i) has failed to fund any of its obligations to make Loans in accordance with Section 2.01, notwithstanding that all conditions to funding under Section 4.2 and, with respect to the Initial Loan, Section 4.1 have been satisfied or waived in accordance with the terms thereof, within three Business Days of the date required to be funded by it hereunder, (ii) has notified the Administrative Agent or the Borrower in writing that it does not intend to comply with such funding obligations, or has made a public statement to that effect with respect to such funding obligations hereunder, or (iii) has become subject to an Insolvency Event; provided, that a Committed Lender shall not be deemed to be a Defaulting Committed Lender hereunder solely by virtue of any control of or ownership interest in, or the acquisition of any ownership interest in, such Committed Lender (or its direct or indirect parent company) or the