Common use of Lenders’ Failure to Perform Clause in Contracts

Lenders’ Failure to Perform. All Advances (other than Swing Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 2 contracts

Samples: Loan and Security Agreement (System Software Associates Inc), Loan and Security Agreement (Star Telecommunications Inc)

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Lenders’ Failure to Perform. All Advances (other than Swing Administrative Agent Loans and Administrative Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Natural Wonders Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Agent --------------------------- Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Agent Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as .as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Agent Loans and Agent Protective Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Loans and Administrative Agent Advances) shall be deemed made by the Lenders simultaneously (except as otherwise agreed upon by the Administrative Agent and the Lenders) and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Komag Inc /De/)

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Lenders’ Failure to Perform. All Advances (other than Swing --------------------------- Foothill Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Convergent Communications Inc /Co)

Lenders’ Failure to Perform. All Advances (other than Swing Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (System Software Associates Inc)

Lenders’ Failure to Perform. All Advances (other than Agent Loans, Swing Loans and Agent Advances) shall be deemed made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advances hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Advances hereunder, and (ii) no failure by any Lender to perform its obligation to make any Advances hereunder shall excuse any other Lender from its obligation to make any Advances hereunder.

Appears in 1 contract

Samples: Agency Agreement (Franks Nursery & Crafts Inc)

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