Common use of Termination of Defaulting Lender Commitment Clause in Contracts

Termination of Defaulting Lender Commitment. The Borrower may terminate the unused amount of any Defaulting Lender’s Commitment upon not less than three Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.16(a) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts), provided that, unless otherwise specifically agreed in writing by the Borrower, neither such termination nor any other provision, or act taken by the Borrower, hereunder will be deemed to be a waiver or release of any claim that the Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender.

Termination of Defaulting Lender Commitment. The Borrower may terminate the unused amount of any the Commitment of a Defaulting Lender’s Commitment Lender upon not less than three two Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.16(aclause (iii) below will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts), provided that, unless otherwise specifically agreed in writing by the Borrower, neither that such termination nor any other provision, or act taken by the Borrower, hereunder will not be deemed to be a waiver or release of any claim that the Borrower, the Administrative Agent Agent, or any Lender may have against such Defaulting Lender., or cause such Defaulting Lender to be a Non-Defaulting Lender. (ii)

Termination of Defaulting Lender Commitment. The Borrower may terminate the unused amount of any Defaulting Lender’s Commitment upon not less than three Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.16(a2.16(b) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts), provided that, unless otherwise specifically agreed in writing by the Borrower, neither such termination nor any other provision, or act taken by the Borrower, hereunder will be deemed to be a waiver or release of any claim that the Borrower, the Administrative Agent Agent, the L/C Issuer, the Swing Line Lender or any Lender may have against such Defaulting Lender.