Common use of Termination of Defaulting Lender Clause in Contracts

Termination of Defaulting Lender. If a Defaulting Lender has not cured its status as a “Defaulting Lender” within ten (10) Business Days from becoming such, the Borrower may terminate the unused amount of the Commitment of any Lender that is a Defaulting Lender upon not less than three (3) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.17(B)(i)(c) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender.

Termination of Defaulting Lender. If a Defaulting Lender has not cured its status as a “Defaulting Lender” within ten (10) Business Days from becoming such, the Borrower The BorrowersBorrower may terminate the unused amount of the Revolving Credit Commitment of any Revolving Lender that is a Defaulting Lender upon not less than three (3) five Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.17(B)(i)(c2.22(a)(ii) will apply to all amounts thereafter paid by the Borrower BorrowersBorrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that provided, (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the BorrowerBorrowersBorrower, the Administrative Agent Agent, the Issuing Bank, the Swing Line Lender or any Lender may have against such Defaulting Lender.

Termination of Defaulting Lender. If a Defaulting Lender has not cured its status as a “Defaulting Lender” within ten (10) 10 Business Days from becoming such, the Borrower may terminate the unused amount of the Commitment of any Lender that is a Defaulting Lender upon not less than three (3) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.17(B)(i)(c) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender.