Examples of Defaulting Investor in a sentence
Each Borrower Party shall promptly notify Administrative Agent in writing upon becoming aware: (a) that any Investor has violated or breached any material term of the Operating Agreement or has become a Defaulting Investor; or (b) of the existence of any condition or event which, with the lapse of time or giving of notice or both, would cause an Investor to become a Defaulting Investor.
If at that time there are insufficient Partnership Assets available to pay the foregoing amount, the Defaulting Investor shall have no further rights in respect of the shortfall.
Any interest paid under clause 6.12 shall be: (a) in addition to the Defaulting Investor's Commitment, shall not reduce the Undrawn Commitment of the Defaulting Investor and shall not be reflected in any Partner accounts; and (b) paid to the Partnership for the account of the non-Defaulting Investors pro rata to their Commitments.
If the Investor has not remedied such default by paying the full amount of the Default Amount and any accrued interest at the expiry of 30 days from the date of such notice, the Manager shall, unless each of the Investors (other than the potential Defaulting Investor) otherwise agree, deem such Investor to be a "Defaulting Investor".