Lender Derivative Provider definition

Lender Derivative Provider means any Person that is a party to a Lender Derivative Contract with any Loan Party or any Subsidiary, provided that such Person is or was a Lender hereunder (or under the Existing Credit Agreement) or an Affiliate of a Lender hereunder (or under the Existing Credit Agreement) at the time it entered into such Derivative Contract.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Lender Derivative Provider means (a) any Person that is a party to a Derivative Contract with any Loan Party or any Subsidiary, provided that such Person is or was a Lender hereunder (or under the Existing Credit Agreement) or an Affiliate of a Lender hereunder (or under the Existing Credit Agreement) at the time it entered into such Derivative Contract and (b) with respect to any Derivative Contract listed on Schedule 6.21 to which the Acquired Company or a Subsidiary of the Acquired Company is a party that is in effect on the Effective Date, each Person (other than a Loan Party or a Subsidiary) that is a party thereto on the Effective Date that is a Lender or an Affiliate of a Lender or is a “Lender” under the QR Energy Credit Agreement or an Affiliate thereof.

Lender Derivative Provider or clause (b) of the definition

Examples of Lender Derivative Provider in a sentence

• Each Lender Derivative Provider that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates to the same extent as a “Lender” party hereto.

• Each Lender, in its capacity as a Lender and in its capacity as a Lender Derivative Provider and a Banking Services Lender, and after complying with clause (a) above, agrees to furnish to the Administrative Agent a written summary of all Obligations due or to become due to such Lender in respect of any Derivative Contract or Banking Services Agreement on a monthly basis (not later than the 10th Business Day of each calendar month) or as more frequently as the Administrative Agent shall request.

• The Issuing Lender, the Majority Lenders (including in their capacity as Lender Derivative Providers) and each other Lender Derivative Provider, hereby authorize and instruct the Administrative Agent, consistent with Section 10.09 of the Credit Agreement to release the Liens securing the Obligations insofar as such Liens cover the Utica Shale Interests.

• Notwithstanding the foregoing, the Administrative Agent shall have no obligation to distribute funds in respect of Obligations under Lender Derivative Contracts if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Lender Derivative Provider.

More Definitions of Lender Derivative Provider

Lender Derivative Provider any Person that is a party to a Derivative Contract with any Loan Party or any Subsidiary, provided that such Person is or was a Lender hereunder or an Affiliate of a Lender hereunder at the time it entered into such Derivative Contract. (b) The “waterfall” in Section 9.02(c) of the Credit Agreement is hereby amended and restated in its entirety as follows: first, to the payment of that portion of the Obligations constituting reimbursement of fees, expenses, indemnities and other amounts (including fees and disbursements of counsel to the Administrative Agent) payable to the Administrative Agent in its capacity as such; second, to the payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the Issuing Lender (including fees and expenses of counsel), ratably among them in proportion to the respective amounts described in this clause second payable to them; third, to the payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Obligations, ratably among the Lenders and the Issuing Lender in proportion to the respective amounts described in this clause third payable to them; fourth, (i) to the Administrative Agent for the account of the Issuing Lender, to cash collateralize Letters of Credit in an amount equal to 103% of the then outstanding LC Obligations (to the extent not otherwise cash collateralized in an amount equal to 103% of the then outstanding LC Obligations), (ii) to the payment of that portion of the Obligations constituting of unpaid principal of the Loans and unpaid drawings under Letters of Credit, (iii) to the payment of that portion of the Obligations owed to Lender Derivative Providers under any Lender Derivative Contracts and (iv) to the payment of that portion of the Obligations then owed to Banking Services Lenders under Banking Services Agreements, ratably among the Lenders, the Issuing Lenders, the Lender Derivative Providers and the Banking Services Lenders in proportion to the respective amounts described in this clause fourth; provided that, to the extent that any Excluded Swap Obligation exists, payments or the proceeds of any Collateral provided by a Loan Party that is not a Qualified ECP Guarantor may not be shared with a Lender Derivative Provider to the extent that doing so would violate the Commodity Exchange Act fifth, to payment of other unpaid O...