Delinquent Bank definition

Delinquent Bank has the meaning set forth in Section 7.10(a).

Delinquent Bank means a Bank that misses any funding time specified in the Procedures, including a funding time for the repayment of Plan COs; and

Delinquent Bank shall have the meaning specified in Section 12.07 hereof.

Examples of Delinquent Bank in a sentence

• A Delinquent Bank shall be deemed to have satisfied in full a delinquency when and if, as a result of application of the assigned payments to all outstanding Loans of the nondelinquent Banks, the Banks’ respective pro rata shares of all outstanding Loans have returned to those in effect immediately prior to such delinquency and without giving effect to the nonpayment causing such delinquency.

• A Delinquent Bank shall be deemed to have satisfied in full a delinquency when and if, as a result of application of the assigned payments to all outstanding Loans and Unpaid Reimbursement Obligations of the nondelinquent Banks, the Banks' respective pro rata shares of all outstanding Loans and Unpaid Reimbursement Obligations have returned to those in effect immediately prior to such delinquency and without giving effect to the nonpayment causing such delinquency.

• The Delinquent Bank hereby authorizes the Agent to distribute such payments to the nondelinquent Banks in proportion to their respective pro rata shares of all outstanding Loans.

• A Delinquent Bank shall be deemed to have assigned any and all payments due to it from the Borrower, whether on account of outstanding Loans, interest, fees or otherwise, to the remaining nondelinquent Banks for application to, and reduction of, their respective pro rata shares of all outstanding Loans.

• The Delinquent Bank hereby authorizes the Agent to distribute such payments to the nondelinquent Banks in proportion to their respective pro rata shares of all outstanding Loans and Unpaid Reimbursement Obligations.

More Definitions of Delinquent Bank

Delinquent Bank has the meaning ascribed to it in Section 2.5.5.(a) hereof.

Delinquent Bank any Bank that fails to make available when due to the Administrative Agent its pro rata share of any Loan, or fails to make available when due to the Swing Line Bank its pro rata share of any Swing Line Loan.

Delinquent Bank means any Bank which fails to make available to the Agent such Bank's Pro Rata Share of any of the Loans in accordance with this Agreement or its Pro Rata Share of any LC Disbursement or refunded reimbursement payment pursuant to Section 2.01(e)(iv); provided that the failure of any of the Banks to so forward its Pro Rata Share of any Libor Loan due to the occurrence of one or more of the events described in Section 2.10 (b), 2.10 (c) or 2.10(d) for a period of less than ninety (90) consecutive days in any instance shall not be deemed a failure to so forward such Bank's Pro Rata Share of any Loan so long as such Bank so forwards its Pro Rata Share of such Loan at the Reference Rate.

Delinquent Bank shall have the meaning assigned to it in Section 9.19 hereof.

Delinquent Bank means that term as defined in SECTION 9.4.2 hereof.

Delinquent Bank have the respective meanings specified in Section 10.18.

Delinquent Bank means a Bank that misses any funding time specified in the Procedures, including a funding time for the repayment of Plan COs; and a “Plan CO” means a CO issued on behalf of a Delinquent Bank to one or more Contingency Banks. For the avoidance of doubt, although a Delinquent Bank is primarily responsible for repayment of a Plan CO issued on its behalf, each Plan CO is the joint and several obligation of all of the Banks; and a “Contingency Bank” means any Bank that provides funds for a Delinquent Bank under the Procedures; and