Common use of Defaulting Banks Clause in Contracts

Defaulting Banks. (a) Notwithstanding any provision of this Agreement to the contrary, if one or more Banks become Defaulting Banks, then, upon notice to such effect by the Administrative Agent (which notice shall be given promptly after the Administrative Agent becomes aware that any Bank shall have become a Defaulting Bank, including as a result of being advised thereof by the Issuing Bank or the Borrower) (such notice being referred to as a “Defaulting Bank Notice”), the following provisions shall apply for so long as any such Bank is a Defaulting Bank:

Defaulting Banks. (a) Notwithstanding any provision of this Agreement to the contrary, if one or more Banks become Defaulting Banks, then, upon notice to such effect by the Administrative Agent (which notice shall be given promptly after the Administrative Agent becomes aware that any Bank shall have become a Defaulting Bank, including as a result of being advised thereof by the any Issuing Bank or the Lead Borrower) (such notice being referred to as a “Defaulting Bank Notice”), the following provisions shall apply for so long as any such Bank is a Defaulting Bank:

Defaulting Banks. (a) Notwithstanding any provision of this Agreement to the contrary, if one or more Banks become Defaulting Banks, then, upon notice to such effect by the Administrative Agent (which notice shall be given promptly after the Administrative Agent becomes aware that any Bank shall have become a Defaulting Bank, including as a result of being advised thereof by the Issuing Bank or the Borrower) (such notice being referred to as a “Defaulting Bank Notice”), the following provisions shall apply for so long as any such Bank is a Defaulting Bank:

Defaulting Banks. (a) ix.Notwithstanding any provision of this Agreement to the contrary, if one or more Banks become Defaulting Banks, then, upon notice to such effect by the Administrative Agent (which notice shall be given promptly after the Administrative Agent becomes aware that any Bank shall have become a Defaulting Bank, including as a result of being advised thereof by the Issuing Bank or the Borrower) (such notice being referred to as a “Defaulting Bank Notice”), the following provisions shall apply for so long as any such Bank is a Defaulting Bank: