Common use of Defaulting Banks Clause in Contracts

Defaulting Banks. Anything herein to the contrary notwithstanding, during such period as a Bank is a Defaulting Bank, to the fullest extent permitted by applicable law, such Bank will not be entitled to vote in respect of amendments and waivers hereunder and the Revolving Commitment and the outstanding Loans of such Bank hereunder will not be taken into account in determining with the Requisite Banks or all of the Banks, as required, have approved any such amendment or waiver (and the definition of “Requisite Banks” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or waiver that would increase or extend the term of the Revolving Commitment of such Defaulting Bank, extend the date fixed for the payment of principal or interest owing to such Defaulting Bank, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Bank or of any fee payable to such Defaulting Bank hereunder, or alter the terms of this proviso, will require the consent of such Defaulting Bank.

Defaulting Banks. Anything herein Notwithstanding anything contained in this Agreement to the contrary notwithstandingcontrary, in the event that any Bank is or becomes a Defaulting Bank, then (i) during the period in which such period as a Bank is a Defaulting Bank, the consent of such Defaulting Bank shall not be required for any purpose for which the consent of the Banks or the Required Banks is required; and (ii) to the fullest extent permitted by applicable law, during the period in which such Bank will is a Defaulting Bank and until such time as the Defaulting Bank’s Commitments hereunder shall have been reduced to zero, (A) any voluntary prepayment of any Loan shall be applied to the outstanding Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (B) any mandatory prepayment of any Loan shall be applied to the Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (C) such Defaulting Bank shall not be entitled to vote in receive any commitment fee, letter of Credit fee or any other fee with respect of amendments and waivers hereunder and the Revolving Commitment and the outstanding Loans of such Bank hereunder will not be taken into account in determining with the Requisite Banks or all of the Banks, as required, have approved any such amendment or waiver (and the definition of “Requisite Banks” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or waiver that would increase or extend the term of the Revolving Commitment of such Defaulting Bank, extend the date fixed for the payment of principal or interest owing to such Defaulting Bank’s Commitment, reduce the amount and (D) availability of or the rate or amount Loans and Letters of interest on Credit pursuant to Article II shall, as at any amount owing to date of determination, be calculated as if such Defaulting Bank had funded its Pro Rata Share of each such Loan or Letter of any fee payable to such Defaulting Bank hereunder, or alter the terms of this proviso, will require the consent of such Defaulting BankCredit in full.

Defaulting Banks. Anything herein Notwithstanding anything contained in this Agreement to the contrary notwithstandingcontrary, in the event that any Bank is or becomes a Defaulting Bank, then (i) during the period in which such period as a Bank is a Defaulting Bank, the consent of such Defaulting Bank shall not be required for any purpose for which the consent of the Banks or the Required Banks is required; and (ii) to the fullest extent permitted by applicable law, during the period in which such Bank will is a Defaulting Bank and until such time as the Defaulting Bank's Commitments hereunder shall have been reduced to zero, (A) any voluntary prepayment of any Loan shall be applied to the outstanding Loans of other Banks as if such GP:4272375 vl Defaulting Bank had no Loans outstanding, (B) any mandatory prepayment of any Loan shall be applied to the Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (C) such Defaulting Bank shall not be entitled to vote in receive any commitment fee, letter of credit fee or any other fee with respect of amendments and waivers hereunder and the Revolving Commitment and the outstanding Loans of such Bank hereunder will not be taken into account in determining with the Requisite Banks or all of the Banks, as required, have approved any such amendment or waiver (and the definition of “Requisite Banks” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or waiver that would increase or extend the term of the Revolving Commitment of such Defaulting Bank, extend the date fixed for the payment of principal or interest owing to such Defaulting Bank's Commitment, reduce the amount and (D) availability of or the rate or amount Loans and Letters of interest on Credit pursuant to Article II shall, as at any amount owing to date of determination, be calculated as if such Defaulting Bank had funded its Pro Rata Share of each such Loan or Letter of any fee payable to such Defaulting Bank hereunder, or alter the terms of this proviso, will require the consent of such Defaulting BankCredit in full.

Defaulting Banks. Anything herein Notwithstanding anything contained in this Agreement to the contrary notwithstandingcontrary, in the event that any Bank is or becomes a Defaulting Bank, then (i) during the period in which such period as a Bank is a Defaulting Bank, the consent of such Defaulting Bank shall not be required for any purpose for which the consent of the Banks or the Required Banks is required; and (ii) to the fullest extent permitted by applicable law, during the period in which such Bank will is a Defaulting Bank and until such time as the Defaulting Bank’s Commitments hereunder shall have been reduced to zero, (A) any voluntary prepayment of any Loan shall be applied to the outstanding Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (B) any mandatory prepayment of any Loan shall be applied to the Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (C) such Defaulting Bank shall not be entitled to vote in receive any commitment fee, letter of credit fee or any other fee with respect of amendments and waivers hereunder and the Revolving Commitment and the outstanding Loans of such Bank hereunder will not be taken into account in determining with the Requisite Banks or all of the Banks, as required, have approved any such amendment or waiver (and the definition of “Requisite Banks” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or waiver that would increase or extend the term of the Revolving Commitment of such Defaulting Bank, extend the date fixed for the payment of principal or interest owing to such Defaulting Bank’s Commitment, reduce the amount and (D) availability of or the rate or amount Loans and Letters of interest on Credit pursuant to Article II shall, as at any amount owing to date of determination, be calculated as if such Defaulting Bank had funded its Pro Rata Share of each such Loan or Letter of any fee payable to such Defaulting Bank hereunder, or alter the terms of this proviso, will require the consent of such Defaulting BankCredit in full.

Defaulting Banks. Anything herein Notwithstanding anything contained in this Agreement to the contrary notwithstanding57 GP:3761233v2 contrary, in the event that any Bank is or becomes a Defaulting Bank, then (1) during the period in which such period as a Bank is a Defaulting Bank, the consent of such Defaulting Bank shall not be required for any purpose for which the consent of the Banks or the Required Banks is required; and (ii) to the fullest extent permitted by applicable law, during the period in which such Bank will is a Defaulting Bank and until such time as the Defaulting Bank's Commitments hereunder shall have been reduced to zero, (A) any voluntary prepayment of any Loan shall be applied to the outstanding Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (B) any mandatory prepayment of any Loan shall be applied to the Loans of other Banks as if such Defaulting Bank had no Loans outstanding, (C) such Defaulting Bank shall not be entitled to vote in receive any commitment fee, letter of credit fee or any other fee with respect of amendments and waivers hereunder and the Revolving Commitment and the outstanding Loans of such Bank hereunder will not be taken into account in determining with the Requisite Banks or all of the Banks, as required, have approved any such amendment or waiver (and the definition of “Requisite Banks” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or waiver that would increase or extend the term of the Revolving Commitment of such Defaulting Bank, extend the date fixed for the payment of principal or interest owing to such Defaulting Bank's Commitment, reduce the amount and (D) availability of or the rate or amount Loans and Letters of interest on Credit pursuant to Article H shall, as at any amount owing to date of determination, be calculated as if such Defaulting Bank had funded its Pro Rata Share of each such Loan or Letter of any fee payable to such Defaulting Bank hereunder, or alter the terms of this proviso, will require the consent of such Defaulting BankCredit in full.