Payments; Fees. Agent may, in its Permitted Discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full in cash. Agent may use such amounts to cover the Defaulting Lender's defaulted obligations or to readvance the amounts to Borrowers. A Lender shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender.
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Samples: Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.)
Payments; Fees. Agent may, in its Permitted Discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full in cash. Agent may use such amounts to cover the Defaulting Lender's ’s defaulted obligations or to readvance the amounts to Borrowers. A Lender shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender.
Appears in 4 contracts
Samples: Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.)
Payments; Fees. Agent may, in its Permitted Discretiondiscretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Transaction Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full in cashfull. Agent may use apply such amounts to cover the Defaulting Lender's ’s defaulted obligations or to readvance the amounts to BorrowersBorrower hereunder. A Lender shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender, and the unfunded portion of its Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1.
Appears in 3 contracts
Samples: Loan and Security Agreement (Flat Rock Core Income Fund), Loan and Security Agreement (Flat Rock Capital Corp.), Loan and Security Agreement (KCAP Financial, Inc.)
Payments; Fees. Agent may, in its Permitted Discretiondiscretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full in cashfull. Agent may use apply such amounts to cover the Defaulting Lender's ’s defaulted obligations or obligations, use the funds to readvance the amounts to BorrowersBorrowers hereunder. A Lender shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender, and the unfunded portion of its Standby Term Loan Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1.
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