Term Lenders definition
Examples of Term Lenders in a sentence
Any Declined Proceeds remaining thereafter shall (i) unless the Administrative Agent otherwise agrees, be offered on a pro rata basis to the Term Lenders that did not reject their pro rata share of such mandatory prepayment and (ii) if rejected by such Xxxx Xxxxxxx, be retained by the Borrowers (“Retained Declined Proceeds”).
The Administrative Agent will promptly notify the Borrower and the Term Lenders of the effectiveness of any Benchmark Replacement Conforming Changes in connection with the use or administration of Term SOFR Rate.
If the Administrative Agent resigns under this Agreement, the Required Term Lenders shall appoint from among the Lenders a successor agent for the Lenders, which appointment of a successor agent shall require the consent of the Borrower at all times other than during the existence of an Event of Default under Section 8.01(f) or (g) (which consent of the Borrower shall not be unreasonably withheld or delayed).
If no successor agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Term Lenders and the Borrower, a successor agent from among the Lenders.