Declining Lender. Notwithstanding anything in this Section 2.3(b) to the contrary, any Lender may elect, by notice to the Administrative Agent by telephone (confirmed by hand delivery, facsimile transmission or PDF attachment to an e-mail) at least one (1) Business Day prior to the required prepayment date, to decline all or any portion of any mandatory prepayment of its Term Loans pursuant to this Section 2.3(b), in which case the aggregate amount of the prepayment that would have been applied to prepay Term Loans but was so declined may be retained by the Borrower and the Restricted Subsidiaries (such retained amount, “Retained Declined Proceeds”).
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (U.S. Concrete, Inc.), Credit and Guaranty Agreement (U.S. Concrete, Inc.)