Reallocation of Pro Rata Share to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 3.4 or in Swingline Loans pursuant to Section 2.7(c), the L/C Percentage of each Non-Defaulting Lender of any such Letter of Credit and the Revolving Percentage of each Non-Defaulting Lender of any such Swingline Loan, as the case may be, shall be computed without giving effect to the Revolving Commitment of such Defaulting Lender; provided that, (A) [reserved]; and
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Sources: Credit Agreement (Alkami Technology, Inc.), Credit Agreement (Alkami Technology, Inc.), Credit Agreement (Alkami Technology, Inc.)
Reallocation of Pro Rata Share to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Non- Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 3.4 or in Swingline Swing Line Loans pursuant to Section 2.7(c)Sections 2.03 and 2.04, the L/C Percentage Pro Rata Share of each Non-Defaulting Lender of any such Letter of Lender’s Revolving Credit Loans and the Revolving Percentage of each Non-Defaulting Lender of any such Swingline Loan, as the case may be, L/C Obligations shall be computed without giving effect to the Revolving Commitment of such that Defaulting Lender; provided thatthat (i) each such reallocation shall be given effect only if, (A) [reserved]at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default has occurred and is continuing; and
Appears in 1 contract
Sources: Credit Agreement (CONDUENT Inc)
Reallocation of Pro Rata Share to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 3.4 or in Swingline Loans pursuant to Section 2.7(c), the L/C Percentage of each Non-Defaulting Lender of any such Letter of Credit and the Revolving Percentage of each Non-Defaulting Lender of any such Swingline Loan, as the case may be, shall be computed without giving effect to the Revolving Commitment of such Defaulting Lender; provided that, (A) [reserved]; andand sf-5537426
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