Common use of Lender Default Clause in Contracts

Lender Default. The right of a Defaulting Lender to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans and this Credit Agreement, shall be suspended; provided, however, such Defaulting Lender shall retain the right to vote on all matters which required all Lender or affected Lender consent under Section 13.01(a). The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender Commitment, including its Pro Rata Share in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such Lender’s interests, then each Lender that is not a Defaulting Lender (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata in accordance with its Lender Commitment) such Lender’s Lender Commitment, including its Pro Rata Share in the outstanding Obligations under this Credit Agreement.

Lender Default. The right of a Defaulting Lender to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans and this Credit Agreement, shall be suspended; provided, however, such Defaulting Lender shall retain the right to vote on all matters which required all Lender or affected Lender consent under Section 13.01(a). The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender Commitment, including its Pro Rata Share in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such Lender▇▇▇▇▇▇’s interests, then each Lender that is not a Defaulting Lender (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such right, each Current Party shall have the right to acquire, pro rata in accordance with its Lender Commitment) such Lender’s Lender Commitment, including its Pro Rata Share in the outstanding Obligations under this Credit Agreement.

Lender Default. The right of a Defaulting Lender to vote on matters related to this Credit Agreement, and to participate in the administration of the Loans and this Credit Agreement, shall be suspended; provided, however, such Defaulting Lender shall retain the right to vote on all matters which required all Lender or affected Lender consent under Section 13.01(a). The Administrative Agent shall have the right, but not the obligation, in its sole discretion, to acquire at par all of such ▇▇▇▇▇▇’s Lender Commitment, including its Pro Rata Share in the Obligations under this Credit Agreement. In the event that the Administrative Agent does not exercise its right to so acquire all of such Lender▇▇▇▇▇▇’s interests, then each Lender that is not a Defaulting Lender (each, a “Current Party”) shall then, thereupon, have the right, but not the obligation, in its sole discretion to acquire at par (or if more than one Current Party exercises such USActive 61312342.4 DOCPROPERTY "DocID" \* MERGEFORMAT USActive 61477672.3-131- right, each Current Party shall have the right to acquire, pro rata in accordance with its Lender Commitment) such Lender’s Lender Commitment, including its Pro Rata Share in the outstanding Obligations under this Credit Agreement.