Defaulting Revolving Lender definition

Defaulting Revolving Lender has the meaning set forth in Section 2.22.

Defaulting Revolving Lender means any Defaulting Lender that is a Revolving Lender.

Defaulting Revolving Lender means any Revolving Lender that (i) wrongfully refuses (which refusal has not been retracted) to make available its Loan requested on any Funding Date, (ii) fails to fund a Revolving Loan for the purpose of repaying any Refunded Swing Line Loan pursuant to subsection 2.1A(iii)(b), (iii) fails to purchase an assignment of an unpaid Swing Line Loan pursuant to subsection 2.1A(iii)(c), (iv) fails to fund a Revolving Loan for the purpose of repaying any unreimbursed amounts of a drawing under a Letter of Credit pursuant to subsection 3.3B, (v) fails to fund a participation in any such unreimbursed Letter of Credit drawing pursuant to subsection 3.3C, (vi) has been deemed insolvent or has become the subject of a bankruptcy or insolvency proceeding or a takeover by a regulatory authority, or (vii) has notified Administrative Agent, Swing Line Lender, any Issuing Lender or any Loan Party (a) that it does not intend to comply with its obligations under subsections 2.1A(iii)(b), 2.1A(iii)(c), 3.3B or 3.3C in circumstances where such non-compliance would constitute a breach of such Revolving Lender’s obligations under the respective subsection or (b) of the events described in preceding clause (vi); provided that for purposes of the last sentence of subsection 2.1A(iii)(a), subsection 2.4B(iii)(g), the second to last sentence of subsection 3.1A and any documentation entered into pursuant to the Back-Stop Arrangements only, the term “Defaulting Revolving Lender” shall also include any Revolving Lender that (a) has an Affiliate that has been deemed insolvent or has become the subject of a bankruptcy or insolvency proceeding or a takeover by a regulatory authority, (b) previously was a Defaulting Revolving Lender under this Agreement unless such Revolving Lender ceased to be a Defaulting Revolving Lender thereafter for at least 90 consecutive days, or (c) is in default under any other credit facility to which it is a party and which default the Swing Line Lender, any Issuing Lender or Administrative Agent believes in good faith has occurred and is continuing.

Examples of Defaulting Revolving Lender in a sentence

• Until a Defaulting Revolving Lender cures its failure to fund its Pro Rata Share of any Borrowing (A) such Defaulting Revolving Lender shall not be entitled to any portion of the Unused Line Fee and (B) the Unused Line Fee shall accrue in favor of the Lenders which have funded their respective Pro Rata Shares of such requested Borrowing and shall be allocated among such performing Lenders ratably based upon their relative Commitments.

• The failure of any Revolving Lender to make any Revolving Loan on any Funding Date (any such Revolving Lender, prior to the cure of such failure, being referred to herein as a "Defaulting Revolving Lender") shall not relieve any other Revolving Lender of its obligation hereunder to make a Revolving Loan on such Funding Date.

• The Collateral Agent shall not be obligated to transfer to a Defaulting Revolving Lender any payments made by the Borrowers to the Collateral Agent for the Defaulting Revolving Lender's benefit, nor shall a Defaulting Revolving Lender be entitled to the sharing of any payments hereunder.

• Nothing herein shall be deemed to relieve any Revolving Lender of its obligation to fulfill its commitments hereunder or to prejudice any rights which the Borrowers may have against any Revolving Lender as a result of any default by such Revolving Lender hereunder, including, without limitation, the right of the Borrowers to seek reimbursement from any Defaulting Revolving Lender for any amounts paid by the Borrowers under CLAUSE (Y) above on account of such Defaulting Revolving Lender's default.

• If the Defaulting Revolving Lender does not pay such amounts on the Agent's demand, the Agent shall promptly notify the LFC Funds Administrator and the Borrowers shall pay such amounts to the Agent (to the extent the Agent has made such amounts available to or for the account of Borrowers) within five (5) Business Days of its receipt of such notice.

More Definitions of Defaulting Revolving Lender

Defaulting Revolving Lender as defined in Section 2.26.

Defaulting Revolving Lender see Section 2.6.

Defaulting Revolving Lender means a Revolving Lender that is a Defaulting Lender.

Defaulting Revolving Lender has the meaning specified in Section 13.15(c).

Defaulting Revolving Lender has the meaning set forth in Section 2.6.

Defaulting Revolving Lender means any Revolving Loan Lender with respect to which a Lender Default under the Revolving Credit Facilities is in effect.

Defaulting Revolving Lender has the meaning set forth in Section 2.16.