Termination of Defaulting Lender. Borrower Representative may terminate the unused amount of any Commitment of any Lender that is a Defaulting Lender upon not less than ten (10) Business Days’ prior notice to Agent (which shall promptly notify Lenders thereof); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim of Borrowers, Agent, or any other Lender may have against such Defaulting Lender.
Appears in 4 contracts
Samples: Loan and Security Agreement (Expensify, Inc.), Loan and Security Agreement (Expensify, Inc.), Loan and Security Agreement (Expensify, Inc.)
Termination of Defaulting Lender. Borrower Representative The Borrowers may terminate the unused amount of any the Commitment of any Lender that is a Defaulting Lender upon not less than ten (10) five Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof); , provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim of the Borrowers, the Administrative Agent, any Issuer, the Swing Line Lender or any other Lender may have against such Defaulting Lender.
Appears in 4 contracts
Samples: Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc)
