Common use of Defaulting Lender Fees Clause in Contracts

Defaulting Lender Fees. Subject to Section 2.08(l): (i) No Defaulting Lender shall be entitled to receive any Defaulting Lender’s ratable share of the fees described in Section 3.05(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). (ii) Each Defaulting Lender shall be entitled to receive such Defaulting Lender’s ratable share of the fees described in Section 3.05(b) for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Revolving Commitment Percentage of the stated amount of Letters of Credit for which it has provided cash collateral pursuant to Section 2.08(j). (iii) With respect to any fee not required to be paid to any Defaulting Lender pursuant to clause (i) or (ii) above, the Borrower shall (x) pay to each Non-Defaulting Revolving Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of Credit hereunder that has been reallocated to such Non-Defaulting Revolving Lender pursuant to Section 2.08(l)(iii), (y) pay to each Issuing Bank the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.

Defaulting Lender Fees. Subject Notwithstanding anything herein to the contrary, but subject to Section 2.08(l): 9.26 (i) No Defaulting Lender shall be entitled Collateral and Guarantee Principles Relating to receive any Defaulting Lender’s ratable share of the fees described in Section 3.05(a) for any US Secured Obligations), during such period during which that as a Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to any fees relating to such Defaulting Lender’s unused Commitments accruing during such period pursuant to clauses (a) and (b) above (without prejudice to the rights of the Non-Defaulting Lenders in respect of such fees); provided that (i) to the extent that a Ratable Portion of the Letter of Credit Obligations of such Defaulting Lender is reallocated to the Non-Defaulting Lenders pursuant to Section 2.23(a) (Reallocation of Defaulting Lender Commitment), such fees that would have accrued for the benefit of such Defaulting Lender will instead accrue for the benefit of and be payable to such Non-Defaulting Lenders, pro rata in accordance with their respective Commitments, (ii) to the extent that all or any portion of such Letter of Credit Obligations cannot be so reallocated and is not cash collateralized pursuant to Section 2.23(a), such fees will, without prejudice to any rights or remedies of any Issuer or any Lender hereunder, instead accrue for the benefit of and be payable to the relevant Issuer and the pro rata payment provisions of Section 2.15 (Pro Rata Treatment) will automatically be deemed adjusted to reflect the provisions of this paragraph), and (iii) in no event shall the Borrower shall not be required to pay any such fee Commitment Fee in respect of the Commitments of a Defaulting Lender that otherwise would have been required to have been paid to that Defaulting Lender). (ii) Each Defaulting such Lender shall be entitled to receive during such Defaulting Lender’s ratable share of the fees described in Section 3.05(b) for any period during which that such Lender is a Defaulting Lender only to the extent allocable to its Revolving Commitment Percentage of the stated amount of Letters of Credit for which it has provided cash collateral pursuant to Section 2.08(j)Lender. (iii) With respect to any fee not required to be paid to any Defaulting Lender pursuant to clause (i) or (ii) above, the Borrower shall (x) pay to each Non-Defaulting Revolving Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of Credit hereunder that has been reallocated to such Non-Defaulting Revolving Lender pursuant to Section 2.08(l)(iii), (y) pay to each Issuing Bank the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.

Defaulting Lender Fees. Subject Notwithstanding any provision of this Agreement to Section 2.08(l):the contrary, if any Lender becomes a Defaulting Lender, and if any LC Exposure or Swingline Exposure exists at the time a Lender becomes a Defaulting Lender then: (i) No such Defaulting Lender shall be entitled deposit with the Administrative Agent cash collateral in an amount equal to receive any such Defaulting Lender’s ratable share of LC Exposure and Swingline Exposure in accordance with its Applicable Percentage; (ii) if the fees Defaulting Lender does not deposit cash collateral as described in clause (i) above, all or any part of such LC Exposure and Swingline Exposure shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent (A) the sum of all Non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting Lender’s LC Exposure and Swingline Exposure does not exceed the total of all Non-Defaulting Lenders’ Commitments and (B) the conditions set forth in Section 3.05(a6.02 are satisfied at such time; (iii) if the reallocation described in clause (ii) above cannot, or can only partially, be effected, then the Borrower shall within one (1) Business Day following notice by the Administrative Agent cash collateralize such Defaulting Lender’s LC Exposure and Swingline Exposure (after giving effect to any partial reallocation pursuant to clause (ii) above) in accordance with the procedures set forth in Section 2.08(e) for so long as such LC Exposure and Swingline Exposure are outstanding; (iv) if the Borrower cash collateralizes any period during which that Lender is a portion of such Defaulting Lender (and Lender’s LC Exposure pursuant to Section 2.08(k)(iii) then the Borrower shall not be required to pay any fees to such fee that otherwise would have been required to have been paid to that Defaulting Lender). (ii) Each Defaulting Lender shall be entitled to receive such Defaulting Lender’s ratable share of the fees described in Section 3.05(b) for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Revolving Commitment Percentage of the stated amount of Letters of Credit for which it has provided cash collateral pursuant to Section 2.08(j). (iii) With respect to any fee not required to be paid to any Defaulting Lender pursuant to clause (iSection 3.05(b) or (ii) above, the Borrower shall (x) pay to each Non-Defaulting Revolving Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation LC Exposure during the period such Defaulting Lender’s LC Exposure is cash collateralized; (v) if the LC Exposure of the Non-Defaulting Lenders is reallocated pursuant to this Section 2.08(k), then the fees payable to the Lenders pursuant to Section 3.05(a) and Section 3.05(b) shall be adjusted in Letters of Credit hereunder that has been reallocated to accordance with such Non-Defaulting Revolving Lender Lenders’ Applicable Percentages; or (vi) if any Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated pursuant to this Section 2.08(l)(iii2.08(k), (y) pay then, without prejudice to each any rights or remedies of the Issuing Bank the amount of or any such fee Lender hereunder, all commitment fees that otherwise would have been payable to such Defaulting Lender (solely with respect to the extent allocable to portion of such Issuing BankDefaulting Lender’s Fronting Exposure Commitment that was utilized by such LC Exposure) and letter of credit fees payable under Section 3.05(b) with respect to such Defaulting Lender, and (z) not ’s LC Exposure shall be required payable to pay the remaining amount of any Issuing Bank until such feeLC Exposure is cash collateralized and/or reallocated.