Common use of Lenders’ Failure to Perform Clause in Contracts

Lenders’ Failure to Perform. All Advances (other than Agent Advances) and Delayed Draw Term Loans shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance or Delayed Draw Term Loans (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

Appears in 2 contracts

Samples: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.)

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Lenders’ Failure to Perform. All Advances or Term Loan B draws, as the case may be (other than Agent Swing Loans and Protective Advances) and Delayed Draw Term Loans shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance or Delayed Draw Term Loans Loan B, as the case may be (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Orion Healthcorp Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Loans and Agent Advances) and Delayed Draw Term Loans shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance or Delayed Draw Term Loans Loan (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Outsourcing Services Group Inc)

Lenders’ Failure to Perform. All Advances (other than Swing Loans and Agent Advances) and Delayed Draw portion of the Term Loans Loan shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance or Delayed Draw Term Loans (or other extension of credit) or fund any portion of the Term Loan hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Telos Corp)

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Lenders’ Failure to Perform. All Advances (other than Agent Swing Loans and Protective Advances) and Delayed Draw Term Loans Loan A shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance or Delayed Draw Term Loans Loan A (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Sitel Corp)

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