Payments and Deductions to a Defaulting Lender. (a) If any Revolving Lender becomes a Defaulting Lender then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Revolving Lender to satisfy such Revolving Lender’s unsatisfied obligations hereunder until all such unsatisfied obligations are fully paid in cash.
Appears in 2 contracts
Samples: Credit Agreement (Black Stone Minerals, L.P.), Credit Agreement (Black Stone Minerals, L.P.)
Payments and Deductions to a Defaulting Lender. (a) If any Revolving Lender becomes a Defaulting Lender then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Revolving Lender to satisfy such Revolving Lender’s unsatisfied obligations hereunder under such Sections until all such unsatisfied obligations are fully paid in cash.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (Black Stone Minerals, L.P.)
Payments and Deductions to a Defaulting Lender. (a) If any Revolving Lender becomes a Defaulting shall fail to make any payment to the Administrative Agent, the Issuer or the Swing Line Lender required to be made by it pursuant to the terms hereof, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Revolving Lender to satisfy such Revolving Lender’s unsatisfied obligations hereunder under such Sections until all such unsatisfied obligations are fully paid in cash.
Appears in 1 contract
Samples: First Lien Credit Agreement (Milagro Oil & Gas, Inc.)
Payments and Deductions to a Defaulting Lender. (a) If any Revolving Lender becomes a Defaulting Lender then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Revolving Lender to satisfy such Revolving LenderXxxxxx’s unsatisfied obligations hereunder until all such unsatisfied obligations are fully paid in cash.
Appears in 1 contract
