Common use of Termination of Defaulting Lender Commitment Clause in Contracts

Termination of Defaulting Lender Commitment. The Parent may terminate the unused amount of the Commitment of a Defaulting Lender upon not less than three (3) Business Days’ prior notice to the Agent (who will promptly notify the Lenders thereof), provided that such termination will not be deemed to be a waiver or release of any claim the Borrowers, the Agent, any Fronting Letter of Credit Lender or any other Lender may have against such Defaulting Lender.

Termination of Defaulting Lender Commitment. The Parent Borrower may terminate the unused amount of the Commitment of a Defaulting Lender upon not less than three (3) Business Days’ prior notice to the Administrative Agent (who which will promptly notify the Lenders thereofLenders), provided that such termination will not be deemed to be a waiver or release of any claim the BorrowersBorrower, the Administrative Agent, any Fronting Letter of Credit Lender an Issuing Bank or any other Lender may have against such Defaulting Lender.