Common use of Lender Default Clause in Contracts

Lender Default. If for any reason any Lender shall become a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrence, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Commitment, including its Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇’s interests, then each Lender that is not a Defaulting Lender (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Share of Outstandings under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender fail or refuse to abide by its obligations hereunder, and such Lender shall not have cured such situation failure or refusal within five (5) Business Days of its occurrenceoccurrence (a “Lender Default”), then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers any Borrower Party at law or in equity, such ▇▇▇▇▇▇Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit Credit, and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lendersuspended. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Alternate Lender (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become becomes a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrenceLender, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Lender’s Lender Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Lender (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) at par such Defaulting Lender’s Lender Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender fail or refuse to abide by its obligations hereunder, and such Lender shall not have cured such situation failure within five (5) Business Days of its occurrenceoccurrence (a "LENDER DEFAULT"), then, in addition to the rights and remedies that may be available to the Administrative AgentAgents, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇’s Lender's right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit Credit, and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lenderrefusal. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender's Commitment, including its Pro Rata Share of Commitments in the Obligations Obligation under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇’s Lender's interests, then the other Agents and each Lender that is not a Defaulting Lender in Default (a “Current Party”"CURRENT PARTY") shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s 's Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligation under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender fail or refuse to abide by its obligations hereunder, and such Lender shall not have cured such situation failure within five (5) Business Days of its occurrenceoccurrence (a “Lender Default”), then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lenderrefusal. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire acquire, or to arrange to have such other Eligible Assignee to acquire, at par all of such ▇▇▇▇▇▇Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Lender in Default (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become The right of a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrence, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit Loans and this Credit Agreement, shall be suspended during suspended; provided, however, such Defaulting Lender shall retain the pendency of such failure right to vote on all matters which required all Lender or refusal or other event that caused such affected Lender to be a Defaulting Lenderconsent under Section 13.01(a). The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Lender’s CommitmentLender Commitment or Uncommitted Amount, as applicable, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇’s interests, then each Lender that is not a Defaulting Lender (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro ratarata in accordance with its Lender Commitment or Uncommitted Amount, as applicable) such Defaulting Lender’s CommitmentLender Commitment or Uncommitted Amount, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become becomes a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrenceLender, then, during the period in which it remains a Defaulting Lender, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇Lender’s right to receive an Unused Commitment Fee under Section 2.13(b), to vote on matters related to this Credit Agreement, to receive payments of principal on the Loans until payment of the Principal Outstandings held by all other Lenders have been paid and to participate in the administration of the Loans, the Letters of Credit Loans and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The and Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Defaulting Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Defaulting Lender’s interests, then each Lender that is not a Defaulting Lender in default (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become becomes a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrenceLender, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇Defaulting Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Lender (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) at par such Defaulting Lender’s Lender Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender fail or refuse to abide by its obligations hereunder, and such Lender shall not have cured such situation failure within five (5) Business Days of its occurrenceoccurrence (a ”Lender Default”), then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit Credit, and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lenderrefusal. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations Obligation under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Lender in Default (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligation under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrence, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers at law or in equity, such ▇▇▇▇▇▇’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Commitment, including its Share of Commitments in the Obligations USActive 58236919.3 under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇’s interests, then each Lender that is not a Defaulting Lender (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Share of Outstandings under this Credit Agreement.

Lender Default. If for any reason any Lender shall become becomes a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrenceLender, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇Defaulting Lender’s right to vote on matters related to this Credit Agreement, other than those set forth in Section 12.1(a) and (b) hereof, to receive the unused commitment fees pursuant to Section 2.12 and to participate in the administration of the Loans, the Letters of Credit Credit, and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Lender’s interests, then each Lender that is not a Defaulting Lender (a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) at par such Defaulting Lender’s Lender Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become becomes a Defaulting Lender and such Lender shall not have cured such situation within five (5) Business Days of its occurrenceLender, then, during the period in which it remains a Defaulting Lender, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇Lender’s right to receive an Unused Commitment Fee under Section 2.14(b) (and Borrower’s obligation to pay such Unused Commitment Fee with respect to such Defaulting Lender’s Commitment), to vote on matters related to this Credit Agreement, to receive payments of principal on the Loans until payment of the Principal Obligations held by all other Lenders have been paid and to participate in the administration of the Loans, the Letters of Credit Loans and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender to be a Defaulting Lender. The and Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Defaulting Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Defaulting Lender’s interests, then each Lender that is not a Defaulting Lender in default (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.

Lender Default. If for any reason any Lender shall become a Defaulting Lender hereunder, and such Defaulting Lender shall not have cured such situation failure or refusal within five (5) Business Days of its occurrence, then, in addition to the rights and remedies that may be available to the Administrative Agent, the Lenders, or the Borrowers Borrower at law or in equity, such ▇▇▇▇▇▇Defaulting Lender’s right to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans, the Letters of Credit Loans and this Credit Agreement, shall be suspended during the pendency of such failure or refusal or other event that caused such Lender refusal, except with respect to be a Defaulting Lenderclause (a)(i) of Section 9.1 hereof. The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇Defaulting Lender’s Commitment, including its Pro Rata Share of Commitments in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such ▇▇▇▇▇▇Defaulting Lender’s interests, then each Lender that is not a Defaulting Lender in Default (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata) such Defaulting Lender’s Commitment, including its Pro Rata Share of Outstandings in the outstanding Obligations under this Credit Agreement.