Examples of Defaulting Lender in a sentence
Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.
Notwithstanding the foregoing, the Borrower will not be required to pay any Working Capital Commitment Fee to any Working Capital Lender with respect to any period in which such Working Capital Lender was a Defaulting Lender.
Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section 4.18 shall be deemed paid to and redirected by such Defaulting Lender, and such Defaulting Lender irrevocably consents hereto.
Notwithstanding the foregoing, the Borrower will not be required to pay any Commitment Fee to any Term Lender with respect to any period in which such Term Lender was a Defaulting Lender.
Nothing in this Section 5.04 (Obligation to Mitigate) shall be deemed to prejudice any rights that the Borrower, the Credit Facility Agent or any Lender or any Issuing Bank may have against any Lender or Issuing Bank that is a Defaulting Lender.